Federal Iraq’s Oil Revenue Set For 30% Annual Rise In 2017

• Iraqi crude revenues in the first two months of 2017 have totaled $9.5bn, more than twice the $4.5bn figure for the same period last year.

• Current export rates ought to boost annual oil revenues by around 30% to $58bn according to the current futures curve. 2016’s $43.7bn was the lowest level since 2009’s $41.4bn, despite export volumes being 1.4mn b/d higher.

• Iraq’s budget envisions oil revenues of $57.5bn in 2017, a figure that the country is currently on track to edge above. Anything above this level would help to ease the $18.4bn deficit that the budget projects will be racked up this year. (CONTINUED - 196 WORDS)

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chart Federal Iraq’s Oil Revenue Set For 30% Annual Rise In 2017