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Iraq's southern crude exports hit record 3.535 million b/d in December

Dubai (Platts)--2 Jan 2018 805 am EST/1305 GMT


Federal crude oil exports from Iraq's southern Persian Gulf terminals edged up in December to reach a new record high, averaging 3.535 million b/d, up 33,000 b/d from in November, the latest data from the oil ministry showed.

State Oil Marketing Organization (SOMO) exported some 109,573,817 barrels over the month, the oil ministry said in a statement.

This earned the country $6.496 billion in revenues, with prices for the month averaging $59.286/b, it said.

The November rate of 3.502 million b/d was already the highest level for 2017.

The oil ministry said the exports came from Iraq's southern and central oil fields, but did not include any shipments from its northern Kirkuk fields.

All federal exports were shipped from the Gulf terminals, with no barrels leaving the Turkish Mediterranean port of Ceyhan.

--Adal Mirza, adal.mirza@spglobal.com
--Edited by James Leech, james.leech@spglobal.com

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