Iraq’s Monthly Oil Revenue Hits Record High Since 1972
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Iraq’s Monthly Oil Revenue Hits Record High Since 1972

ERBIL — With $11.07 billion of revenue generated from over 100.56 million barrels of oil exported in March, Iraq has recorded the highest monthly revenue since 1972. 

Iraq’s Oil Ministry cited a statement by the State Organization for Marketing of Oil (SOMO) as saying that a total of 99.11 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, and about 1.44 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean. 

The average selling price for crude oil in the month was $110.09 per barrel, the statement added. During the last month, an average of 3.24 million barrels of oil per day were exported. 

The previous month, Iraq announced that it had exported 92 million barrels of crude oil, from which a revenue of $8.54 billion was generated. 

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