The world oil market has seen the highest prices for the last two years. Crude oil has been on the rise for a month, and has been trading at 64.19 dollars in the world market.

Barrel price of oil started at 62.44 dollars yesterday, and exceeded 64 dollars by the evening. Today, the barrel price of crude oil rose to 64.19 dollars. Meanwhile, American oil that trades at lower prices in the world market traded at 57.53 dollars.

The rise in the price is said to be affected by the corruption investigations against princes and ministers in Saudi Arabia, the largest oil exporter in the Middle East.

Southern Kurdistan had announced that the daily oil production was at 630 thousand barrels a day. According to the data, after losing oil fields and sales, Southern Kurdistan’s daily loss is over 40 million dollars, while the monthly loss is over 1 billion 200 million dollars.

Kurdistan Regional Government had had to turn over all large oil fields like Baba Gurgur, Bay Hasan and Havana in Kirkuk to Iraq after the attacks launched by the Iraqi army and the Hashd al-Shaabi on October 16 with the excuse of the referendum.