Iraq recorded the highest rate of oil revenues in 50 years in March, with exporting the equivalent of $11.07 billion in oil, amid a rise in global crude prices against the backdrop of the Russian invasion of Ukraine. Iraqi oil revenues reached their highest level since 1972, according to the Oil Ministry's figures.
According to the ministry, the total amount of exports for the month of March in Iraq reached 100 million 563 thousand and 999 barrels, with revenues amounting to 11.07 billion dollars, which is the highest financial revenue achieved since 1972. According to the ministry, this is a preliminary statistic for the exported quantities of crude oil and the revenues generated for the month of last March, indicating that the final figures usually do not change at all from the preliminary figures, or a slight change may occur. The average daily quantities amounted to 3 million and 244 thousand barrels per day, while the average price per barrel amounted to more than (110,090) dollars.
In February, Iraq recorded the highest rate of oil exports and revenues in eight years, amounting to 8.5 billion dollars, according to what the Ministry of Oil announced.
Source (Al-Sharq al-Awsat Newspaper, Edited)
