BAGHDAD, Iraq, June 2 (NNN-NINA) – Iraqi Oil Ministry said on Saturday, that, it exported more than 110 million barrels of crude oil in May, bringing in revenue of over seven billion U.S. dollars.
“Iraq’s total exports of crude oil in May reached about 110.7 million barrels, at an average of 3.572 million barrels per day,” a ministry statement said, citing statistics of State Organisation for Marketing of Oil, an Iraqi national company, responsible for marketing Iraq’s oil.
The average selling price was 66.6 dollars per barrel in May, the statement said.
“Iraq exported 106.6 million barrels from the country’s central and southern oil fields, and 3.16 million barrels from the northern province of Kirkuk, in addition to 894,528 barrels of oil from the Qayyara Oil Field, in the northern province of Nineveh,” it added.
Iraq’s economy heavily relies on exports of crude oil, which account for more than 90 percent of the country’s revenues.– NNN-NINA
