Iraq exports over 100 mln barrels of crude oil in Dec.-Xinhua

Iraq exports over 100 mln barrels of crude oil in Dec.

Source: Xinhua

Editor: huaxia

2023-01-02 21:29:15

BAGHDAD, Jan. 2 (Xinhua) -- Iraq exported about 103 million barrels of crude oil in December, generating 7.6 billion U.S. dollars in revenue, the country's oil ministry announced Monday.

The average price for Iraqi crude oil in December was 73.64 dollars per barrel, the ministry said in a statement, citing statistics from the State Organization for Marketing of Oil.

A total of 100.7 million barrels were exported from oil fields in central and southern Iraq via the port of Basra, while more than 2 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, the statement said.

Oil prices have risen in global markets since the outbreak of the Russia-Ukraine crisis in February last year, benefiting Iraq and other oil exporting countries. However, oil prices witnessed a decline in the past few months because of fears of lower demand for oil in global markets.

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