Iraqi Revenue From Crude Exports Down 4 Months In Row - Ministry

MOSCOW (Pakistan Point News / Sputnik - 29th September, 2022) Iraqi revenue from oil exports in August accounted for around $9.7 billion after declining four months in a row, the country's ministry of oil said on Thursday.

"The total of oil exports and revenues achieved for the month of August, according to the final statistics issued by the State Organization for Marketing of Oil, where the amount of crude oil exports amounted to 101 million and 859 thousand and 528 barrels, with revenues amounting to 9 billion and 688 million and 903 thousand Dollars," the ministry was quoted as saying by the Iraqi news Agency.

In May, Iraq received $11.5 billion for the exports of oil, reaching a record high in 50 years. Since then, the revenue has shown a downward trend, as Iraq earned $11.4 billion and $10.6 billion from oil trade in June and July, respectively.

The average price of crude oil also fell from $112.2 a barrel in May to $95 in August.