Iraq Generates over $10 Billion from July Oil Exports
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Iraq Generates over $10 Billion from July Oil Exports

ERBIL — Iraq generated $10.6 billion in July alone after exporting a total of 102.38 million barrels of crude oil, according to the country’s Oil Ministry. 

A total of 99.96 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, while about 2.34 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, Xinhua cited a statement by the ministry. 

The ministry said the average price for crude oil in July was 103.6 dollars per barrel.

Since Iraq heavily relies on oil revenues for its national budget, it has remarkable benefited from the high crude prices in global markets affected by the Russia-Ukraine war. 

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