Iraq exports 101 mn barrels of crude oil in April

Baghdad: Iraq exported about 101 million barrels of crude oil in April, bringing in revenues of $10.55 billion, the Oil Ministry said.

The average selling price for crude oil in April was $104.09 per barrel, according to a Ministry statement, citing statistics from the State Organization for Marketing of Oil, reports Xinhua news agency.

A total of 98.1 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, and about 2.99 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, the statement said.

Oil prices have risen in global markets since the outbreak of the Russian-Ukrainian crisis, benefiting Iraq and other oil export countries.

Iraq’s economy heavily relies on crude oil exports, which account for more than 90 per cent of the country’s revenues.