Iraq oil exports drop by 4% from previous month in November

BAGHDAD — Iraq’s Ministry of Oil announced Thursday that crude oil exports for November totaled nearly 99 million barrels, marking a 4% decrease from the 103.1 million barrels exported in October. Exports to Jordan also declined by 16%, dropping from 318,007 barrels in October to 266,715 barrels in November.

According to data from the State Oil Marketing Organization which is published by the ministry of oil, Iraq exported 98,869,824 barrels of crude oil in November, compared to 103,145,225 barrels in October.

In November, the bulk of exports came from oil fields in central and southern Iraq, accounting for 98,603,109 barrels, while in October, these fields contributed 102,302,862 barrels. Additionally, Qayyarah field contributed 524,356 barrels in October, a detail not reflected in November’s data.

Exports to Jordan fell from 318,007 barrels in October to 266,715 barrels in November, indicating a significant month-on-month reduction.

“The ministry remains committed to transparency and keeping the public informed about Iraq’s oil export operations through these monthly updates,” the oil ministry said in its statement.

Iraq, a member of OPEC+, is says it is committed to adhering to production quotas established by the bloc. For 2024, Iraq’s required production level is set at 4.431 million barrels per day. In November, Iraq’s crude oil production averaged approximately 4.043 million bpd.