Iraq Export 93 Mln Barrels Of Crude Oil In Feb

BAGHDAD, Mar 1 (UrduPoint / Pakistan Point News - 1st Mar, 2022 ) :Iraq exported 92.79 million barrels of crude oil in February, bringing in revenues of more than 8.54 billion U.S. dollars, the Iraqi oil ministry said on Tuesday.

The average selling price for crude oil in the month was more than 92.08 Dollars per barrel, according to a ministry statement, citing statistics from the State Organization for Marketing of Oil.

A total of 91.31 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, and about 1.

47 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, the statement said.

Iraq used to export more than 100 million barrels monthly, but the OPEC Plus agreement to cut oil production and a dip in oil prices due to the COVID-19 pandemic have merged to cause a decline in the country's oil exports.

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