Full numbers for Iraq’s November 2011 oil exports and profits were finally released, and showed a rebound on all counts after a two month dip. The price for Iraqi crude went up along with exports, leading to a rise in revenue for Iraq last montn. Despite this, Iraq’s production has still hit a plateau due to infrastructure limitations, and the country is having problems paying foreign companies that are responsible for the increases.
As reported before, Iraq’s oil exports rebounded in November after going down for the previous two months. In November, the country shipped an average of 2.13 million barrels a day, compared to 2.08 million in October, and 2.10 million in September. Last month’s average was not as high as August however, when Iraq exported 2.19 million barrels. The price of one barrel of Iraqi crude also increased from $104.43 in October to $106.59 in November. (more…)