Iraq Generates Over 9$ Billion in October Oil Exports
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Iraq Generates Over 9$ Billion in October Oil Exports

ERBIL — Iraq's Oil Ministry has announced that the country exported 109.54 million barrels of crude oil in October, resulting in revenue of $9.66 billion.

The ministry, citing figures from the Iraqi Oil Marketing Company (SOMO), disclosed that the average price of Iraqi crude oil for October stood at $88.26 per barrel.

Out of the total exported barrels, around 108.05 million came from oil fields in central and southern Iraq, transported through the Basra port. Additionally, 1.03 million barrels were from the Qayyara oilfield in the northern Nineveh province, and 464,728 barrels were sent to neighboring Jordan during the month.

Iraq's economy heavily relies on crude oil exports, constituting more than 90 percent of the country's revenues.

In comparison, Iraq exported 103,143,199 barrels of crude oil in September, yielding $9.494 billion in revenue. August saw the export of over 106 million barrels, generating total revenues of $8,997 million.

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