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Oil exports in Iraq rebound in October

Exploration & Production

Iraqs oil exports rebounded in October after a sharp drop in September, but remained lower than previous months, government figures showed.

Iraq exported 64.8 million barrels in October at an average price of US $104.043, compared to 63.1mn in September and 67.9mn in August, according to statistics provided by oil ministry.

Revenues in October amounted to US$6.742 billion against US$6.619 billion in September and US$7.124 billion in August. The sale of oil represents about 90 percent of Iraq's revenues.

In Basra, exports fell to 50.6 million barrels, compared to 53 million barrels in September. Kirkuk resumed its exports to 14.2 million barrels, up from 10.1 million barrels the day before.

Jihad said 32 international companies bought oil from Iraq in October.