With an export percentage of 3.3 million barrels per day
Baghdad the new morning:
The Central Bureau of Statistics of the Ministry of Planning said Monday that the production of crude oil in Iraq for 2017 was more than 208 million barrels, indicating that this figure is the "highest" oil production for Iraq in a year.
The agency said in a report that «total Iraqi oil production in 2017, which is the largest in oil production in Iraq, was 208 million and 534 thousand barrels and a daily production of 4 million and 228 thousand barrels and an export figure of 3 million and 309 thousand barrels per day, compared with in 2016 this was 206 million and 98 thousand barrels ».
The agency added that "the production of crude oil in Iraq in 1991 amounted to 25 million and 862 thousand barrels per year with a daily production rate of 524 thousand barrels and 39 thousand barrels per day, while the production of crude oil in Iraq 2004 was about 100 million and 4,000 barrels per year to decrease in 2005 to about 93 million barrels per year, and then to rise to 102 million and 70 thousand barrels per year in 2007 ».
It is noteworthy that in 2009 and 2010 Iraq signed contracts with major international companies to develop oil fields in accordance with a contract that is then called service contracts.
World oil prices fell on Monday as sanctions on Iranian fuel exports declined as they went into effect, allowing large buyers to keep Iran's oil imports at least temporarily, while Iran said it would ignore Washington and continue to sell crude oil.
Brent crude oil was $ 72.47 per barrel, a decrease of 36 cents or 0.5 percent compared to the last closing price.
US WTI fell by 35 cents or 0.6 percent to $ 62.79 per barrel. Crude oil has lost more than 15 percent of its value since the beginning of October.
The United States re-imposed sanctions on Iran on Monday to resume sanctions that were previously lifted under the 2015 nuclear deal under the leadership of President Barack Obama and to add 300 new items, including Iranian oil, shipping, insurance and banking services.
However, oil prices were under pressure because Washington allowed a number of countries to continue importing Iranian crude oil under sanctions.
On Friday, the United States said it would allow eight countries to buy oil from Iran temporarily.