The Iraqi government took in $5.45bn in crude export revenues in October, the highest level since October 2014, when oil prices were only just beginning their slump from $100/B.
Revenues crashed with the price of oil late 2014, a situation exacerbated by war with IS and chronic disputes with the Erbil-based Kurdistan Regional Government (KRG). Federally controlled exports of Kirkuk from the Turkish Mediterranean port of Ceyhan have only intermittently budged above zero since, losing Bagdad its key role as a supplier to the Mediterranean market (MEES, 3 November). (CONTINUED - 618 WORDS)
