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OPEC increase to 120.88 dollars
On: Friday 2/24/2012 7:09
Erbil / agencies,
the price of OPEC basket, which includes Basrah Light on Wednesday to 120.88 dollars a barrel.
and OPEC said Thursday that the price of its basket of crudes rose to a record 120.88 dollars a barrel on Wednesday from 119.20 dollars the previous day.
It consists of OPEC basket of 12 crude is a mix deserts of Algeria and raw Gerasol Alanjuli and raw Iranian Heavy, Basra Light and export of Kuwait and Sidr Libya and Bonny Light of Nigeria and sea country and Arab Light Saudi Murban UAE and Mary Venezuelan Orient of Ecuador. Iraq said the country's oil exports during the month of January amounted to 65.3 million barrels compared to 66.5 million barrels in December.
Nevertheless, exports registered an increase in revenue due to higher prices last month affected by the crisis in the region and Iran's threats to close the Strait of Hormuz, the vital cross which about 40 per cent of the oil transported by sea.
Exports last month Revenue value of 7.123 billion versus $ 7.061 billion dollars in December.
The daily export rate to 2.166 million barrels of total production of about 3 million barrels. The highest rates for export in 2011 of 69 million barrels in May and went to $ 7.47 billion dollars.
and seeks to raise exports to 2.6 million barrels per day this year, according to the plan included in the budget of the country's financial dependent on oil imports by 95 per cent.
and Iraq has the fourth the largest oil reserves in the world is estimated at 115 billion barrels, and entered into agreements with international energy companies to raise production to 12 million barrels per day by 2017.
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