Iraq's oil exports hit 2.76 million barrels a day
Iraq's oil exports have hit 2.76 million barrels per day (bpd), the highest level since the UN-supervised "oil-for-food" programme was introduced in 1996, an Iraqi newspaper reported Tuesday. Al-Qadissiya did not specify during which period the level of exports were measured.
The Middle East Economic Survey reported on October 9 that crude exports under the UN oil-for-food programme in September accounted for 2.21 million bpd.
The specialist newsletter estimated domestic consumption and cross-border trade with Turkey, Jordan, Syria and Iran at 600,000 bpd.
Iraq's total oil production dropped 190,000 barrels to 2.81 million bpd in September due to sales problems, it said. Iraq exports crude under the UN oil-for-food programme set up in December 1996 to enable Baghdad to import essential supplies to ease the impact of the sanctions imposed on Iraq after it invaded Kuwait in 1990.
With the second largest oil reserves in the world after Saudi Arabia, Baghdad has set a production target of six million bpd, but that requires massive investment to renovate decaying infrastructure and cannot happen until sanctions are lifted.--AFP.
(C)--Agence France Presse.
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