BAGHDAD, May 2 (NNN-NINA) – Iraq said, it exported more than 103 million barrels of crude oil in Apr, bringing in revenues of more than 1.42 billion U.S. dollars.
Iraq’s total exports of crude oil during the month exceeded 103.14 million barrels, with an average of 3.43 million barrels per day, Iraqi Oil Ministry said, citing statistics of the State Organisation for Marketing of Oil.
The average selling price for crude oil in Apr was 13.8 dollars per barrel, the statement said.
About 100.53 million barrels were exported from Iraq’s central and southern oil fields via Basra port, while about 2.287 million from the northern province of Kirkuk, via the Turkish port of Ceyhan, on the Mediterranean, in addition to 325,319 barrels to neighbouring Jordan.
The ministry figures indicate a sharp decline in Iraq’s revenue from its crude oil exports as a result of lower selling price of 13.8 U.S. dollars per barrel, down from 51.37 dollars per barrel in Feb.
Observers attributed the dip of the selling prices in the oil market mainly to the COVID-19 pandemic and its impact on global economy.
Iraq’s economy heavily relies on crude oil exports, which account for more than 90 percent of the country’s revenues.– NNN-NINA
