Iraq: Oil revenue decreases in January by 36.9%

- Oil exports reached 78.6 million barrels in January.

BAGHDAD (AA) – Iraqi oil revenue has diminished in January due to poor weather conditions and the drop in oil prices, the Iraqi Ministry of Oil said in a statement Thursday.

Exports reached 78.6 million barrels in January, a 38.8 percent decrease compared to December 2014, which led to a 36.9 percent reduction in income, at around $3.26 billion.

“More than 74.1 million barrels were exported from Basra’s southern ports and 4.5 million barrels from Kirkuk,” Assim Jihad, the Iraqi Ministry of Oil’s spokesman, told The Anadolu Agency.

The Iraqi Ministry of Oil announced that the amount of oil exports in December 2014 had reached 91.2 million barrels for a revenue of $5.16 billion.

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