Iraq exports over 100 mln barrels of crude oil in May
Iraq exported about 102.46 million barrels of crude oil in May, generating 7.3 billion U.S. dollars in revenue, the country’s Oil Ministry announced Thursday.
The average price for Iraqi crude oil in May was 71.3 dollars per barrel, said the ministry in a statement, citing statistics from the State Organization for Marketing of Oil, an Iraqi company.
It said crude oil exports during the month were from oil fields in central and southern Iraq via the port of Basra.
Iraq’s economy heavily relies on crude oil exports, which account for more than 90 percent of the country’s revenues.