For the first time in its history, the price of Iraqi oil exceeds Brent crude

[yota691]

For the first time in its history, the price of Iraqi oil exceeds Brent crude

 

 

 2020/07/22 15:05:09

 

Shafaq News / Oil Minister Ihsan Abdul Jabbar announced today, Wednesday, that Iraq exported its crude oil at prices that exceeded Brent crude, which fell to $ 43.97 a barrel.

"For the first time in its history, Iraq has been selling crude oil available for export for two months in a row at prices above Brent crude," the minister said in a tweet.

pic.twitter.com/fjQfBo3nkt

- Ihsan A. Ismaael, Ihsan Abdul Jabbar (@IhsanIsmaael) July 22, 2020

 

Brent crude is used as a standard for pricing two-thirds of the world's oil production, and consists of an oil mixture of 15 different fields in Brent and Tenian (some of which are located in the United Kingdom and others in Norway), which produce about 500 thousand barrels per day.

And based on the differences between it and other raw materials, it is generally sold at a higher price than the OPEC oil basket.

And Iraq lost financial revenues of $ 11 billion, due to the low prices for selling oil in world markets, compared to prices that were prevailing in the same period last year.

This came, in an official statistic issued by the Somo National Company specialized in selling oil in May, in conjunction with the record price of crude sharp declines due to oversupply caused by the outbreak of the "Corona" pandemic worldwide.

The company said that "Iraq sold during the first four months of 202, approximately 409.96 million barrels of oil, at an average price of $ 38, with total revenue of $ 15.39 billion."

Iraq had sold during the first four months of last year, quantities of oil amounted to 423.28 million barrels, at an average price of $ 62, and revenues of $ 26.27 billion.

And Iraq's oil exports make up 98 percent of foreign currency flows to the country, with oil sales making up 45 percent of gross domestic product and 93 percent of public budget revenues.

[yota691]

for the first time..

Oil Minister: We have made an unprecedented achievement in selling Iraqi crude

2020.07.22 - 21:23

 

Baghdad - people  

Oil Minister Ihsan Abdul-Jabbar said on Wednesday that Iraq was able to sell crude oil available for export for two months in a row at prices that exceeded the price of Brent crude, for the first time in its history.  

Abdul Jabbar said in a post followed by "NAS" (July 22, 2020): "Returning to its pioneering role in the global energy market despite the competition and scale of challenges and for the first time in its history, Iraq is selling crude oil available for export for two consecutive months at prices that exceeded the price of Brent crude."  

He added: "A white point for the government curriculum and for more tender."  

[yota691]

• Iraq: selling crude oil for two months at prices that exceed the global Brent index
  22-07-2020 | 22:56 

 

• 

  Explanatory

 

Baghdad - "Jerusalem" dot com - (dpa) - Iraqi Oil Minister Ihsan Abdul Jabbar revealed today, Wednesday, that Iraq exported quantities of crude oil for two months in a row at prices that exceeded Brent crude.

The Iraqi minister said in a tweet to him on his Twitter account that Iraq had returned to "its leading role in the global energy market, despite the competition and the size of the challenges."

For the first time in its history, Iraq has been selling crude oil available for export for two months in a row at prices well above Brent crude.

The Iraqi minister considered this matter as "a white spot for the government curriculum and for more tender." And Iraq’s oil exports range from the beginning of this year between 3 million and 400 thousand barrels and 3 million and 550 thousand barrels per day, the vast majority of which are Iraqi ports in the northern Gulf in the south of the country.

[yota691]

Oil Minister: Iraq sells crude oil for two consecutive months at prices that exceed Brent crude
7/22/20200394

[Donziman]

All i can say.....Is So What ?...