Iraq's Oil Exports Dip by 14 Percent in January

February 12, 2015 11:06 AM

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Iraq's Oil Ministry says crude exports have averaged 2.535 million barrels a day in January, a decrease of nearly 14 percent from the previous month.

Ministry spokesman Assem Jihad said Thursday that last month's revenues stood at $3.258 billion, based on an average price of $41.45 per barrel. Iraq's 2015 budget is based on an expected oil price of $56 per barrel with a daily export capacity of 3.3 million.

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