Iraq exports over 100 mln barrels of crude oil in August

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Iraq exported 101.85 million barrels of crude oil in August with revenues of 9.78 billion U.S. dollars, said the Iraqi Oil Ministry on Thursday.

The average price for crude oil in August was 96.05 dollars per barrel, the ministry said in a statement, citing statistics from the State Organization for Marketing of Oil.

A total of 100.75 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, while about 1.10 million barrels were exported 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, benefiting Iraq and other oil exporting countries.

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

Source: Xinhua