Mon, May 28, 2012, 1:41 PM EDT - U.S. Markets closed for Memorial Day

Iraq's oil exports slightly decline in January

Iraq's January oil exports slightly decline, but revenues up on higher oil prices

BAGHDAD (AP) -- Iraq's oil ministry says oil exports have declined slightly in January compared to the previous month.

Monday's statement says last month oil exports averaged 2.107 million barrels per day, down from 2.145 million barrels per day in December.

The sales grossed $7.123 billion based on an average price of $109.081 per barrel. December's revenues stood at $7.061 billion with an average price of $106.18 per barrel.

The oil was sold to 29 international oil companies.

Iraq relies on oil exports for 95 percent of its revenues, and the uncertainty in the market stemming from the conflict between the West and Iran over its controversial nuclear program has helped support global crude prices.

 

42 comments

  • Big Oil is watching  •  San Diego, California  •  3 months ago
    wheres our free oil to pay for this war???
  • Ziv  •  Fairfax, Virginia  •  3 months ago
    Why should oil be this expensive? It used to be $20 a barrel and I could fill up my car for $3! The fact that there is less oil today, and the easy to get to oil is gone, and that the oil companies have to drill deeper in places like Uzbekistan and the bottom of the ocean, and then ship it 10,000 miles to a refinery in LA, crack it, refine it, pump it into a truck and drive that gasoline to me in a gas station so clean that I can eat a burrito there shouldn't have anything to do with the price of oil! And the fact that my pint of locally bottled water costs a dollar, whereas a pint of gasoline costs 50 cents? Totally unimportant!
  • Honest John  •  3 months ago
    With all the US gas refineries shutting down you could have all the oil in the world and it wont matter.This is one giant money making sham.
    • CoreyL 3 months ago
      There's no need to spend billions on refineries if there won't be enough oil to process.
    • Big Oil is watching 3 months ago
      corey, get a clue, there is massive amounts of oil. the oil companies are purposely keeping supply low to control the price, and exporting the "excess"
  • Hope and Change  •  Houston, Texas  •  3 months ago
    I am amazed at the people that will pay $3.95 for a gallon of milk produced on a peaceful country farm but #$%$ about a $3.70 gallon of gasoline produced from a well 13,000 feet deep under one mile of water. Weird..
    • E G 3 months ago
      Now that is some food for thought.. I've been asking myself the same question. Now if you cant digest lactose you pay more like $6 for half a gallon whats up with that?
    • CongoliaB 3 months ago
      THE DIFFERENCE IS THAT YOU DON'T DRINK 35 GALLONS OF MILK EVERY WEEK NUMB NUTS!.....
    • RobertG 3 months ago
      Correct Cogo. And the fact that oil can be pumped out of the ground in Iraq for around $2 bucks a barrel. How much do you think a barrel of fresh milk costs to produce? Dumb and uneducated point Hope.
  • JamesH  •  3 months ago
    How many crippled American youth have died for oil prices? We spent hundreds of billions of dollars on Iraq and they are selling to international oil companies? They should be giving it to us for all we did trying to restore their country. Why aren't we drilling everywhere in America instead of supporting peoples and cultures that hate us? That is the definition of insanity.
    • Magron 3 months ago
      Who should they 'give' the oil to? The American Peoples Oil Company? LOL
      F'Tard
    • William 3 months ago
      Don't blame Iraq for the Us invastion it was our idea ! How would you like it if the US was occupied by another country say Russia ?
    • Big Oil is watching 3 months ago
      because it would not matter. Big Oil controls the supply in the USA and exports the excess to other countries.. stop big oil now.. nationalize the crooks.
  • N  •  3 months ago
    Why the decline? Stolen?
  • Jerry  •  Temple, Texas  •  3 months ago
    these numbers dont add up.
    • Time to wake up! 3 months ago
      the cost went up therefore the sales $ even though supply was down.
    • William 3 months ago
      Jerry. Try remedial arithmetic..
  • conlon  •  3 months ago
    U.S. should get every danmed drop of Oil from Iraq as reparations for our expense of fighting thier danmed War for them and freeing them from Saddam H.
    • peterpalacios 3 months ago
      Then all the cowards would say the war was for oil.
    • Magron 3 months ago
      but..but..they didn't WANT to be freed. LOL F;Tard.
    • Time to wake up! 3 months ago
      Then we would prove that what we have been accused of is true! Way to get us more hated than we already are!!! Did they invite us as you imply or did we just go invade and blow up their country?
  • Road Warrior  •  3 months ago
    According to USA TODAY 12/31/11, our number one export (that includes food) is .... Fuel. We HAVE fuel. Stop subsidizing big oil profits with our tax $!
  • karen  •  3 months ago
    if we need more gas let us eat more beans !
  • Super  •  Pleasanton, California  •  3 months ago
    US export Iraqi oil to Europe
  • Mike Brown  •  3 months ago
    I thought Bush and Cheney told us the Iraq Oil would pay for their War in Iraq? Guess they were wrong about that too.
  • shame on us  •  3 months ago
    we need the masses in this country to come together and boycott gasoline here...for 1-2 days...shut this country down...be heard....what a gutless nation we have become. all it would take is a conserted effort from some celeb or politician who isn't in the bank's or oil companies pocket. don't buy gas for week...nation wide.
  • cooldude  •  3 months ago
    Iraq should make more money now due to higher oil prices.
  • TA  •  3 months ago
    Iraq should be giving Oil to the USA for free for the USA Liberating there #$%$...
  • Olaf  •  Houston, Texas  •  3 months ago
    I understand this article as a hint that production is now lower. With the Iran article they now have two excuses in one day to rape the public......
  • TheGreatMilenko  •  3 months ago
    Drastic Issues Call For ALTERNATIVE Measures.
  • Greg  •  San Diego, California  •  3 months ago
    Boy, looks like the Bush/Cheney strategy is working just great. Thousands of our best and brightest dead, for what? Would have loved to have been a fly on the wall at that secret meeting Cheney held with the energy producers right at the beginning of their administration!
  • A  •  3 months ago
    We invaded Iraq based on false claims of WMD's, now these same clowns want to invade Iran based on more lies. Who does our government work for? The Oil, Banking, Military and Insurance Cartels. That's who... That is also why we are in this economic malaise... We subsidize these special interests over the health and welfare of our nation...
  • bill  •  3 months ago
    For every 25 cents rise in gasoline prices it takes $35 billion out of the USA economy in three years gasoline has risen $2 dollars a gallon that is a outrageous $280 billion stolen from the pockets of hard working Americans Memorial 3 Day National Gas and Diesel Boycott is coming May 26,27 and 28th.Don,t buy any gasoline or Diesel all 3 days park your cars and walk or ride a bike if you must drive stay local. Pass the word.
 
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