Iraq on Friday said that it has exported more than 103 million barrels of crude oil in April, 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 in a statement, citing the statistics of the State Organization for Marketing of Oil.
The average selling price for crude oil in April 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 Iraq's 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 the neighboring Jordan in April, it said.
The ministry figures indicate a sharp decline in Iraq's revenue from its crude oil exports as a result of lower selling price in April of 13.8 U.S. dollars per barrel, down from 51.37 dollars per barrel in the previous month of February.
Observers attributed the dip of the selling prices in the oil market mainly to the COVID-19 pandemic and its impact on the global economy.
Iraq's economy heavily relies on the crude oil exports, which account for more than 90 percent of the country's revenues.
Editor:Cherie
