Oil exports ended 2020 on a relative high note, but the year saw federal Iraq post its lowest annual export volumes since 2014 and worst revenue total in more than a decade. Tankers dock at the al-Basra Oil Terminal. (BEN LANDO/Iraq Oil Report) Iraq’s nationwide monthly exports increased by more than 5 percent in December , to 3.304 million barrels per day (bpd), ending a year that saw annual oil exports and revenues drop to multi-year lows. Federal Iraq’s oil exports averaged 2.997 million bpd in 2020* – a 15 percent annual drop due to the OPEC-plus agreement . Annual oil revenues also declined due to a crash in global prices; Iraq earned just $41.926 billion, the lowest total in more than a decade. This content is for registered users . Please login to continue. If you are not a registered user, you may purchase a subscription or sign […]