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Iraq exports over 84 mln barrels of crude oil in June

Xinhua News,BAGHDAD
2020-07-01 13:12

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BAGHDAD, July 1 (Xinhua) -- Iraqi Oil Ministry said on Wednesday that it exported more than 84 million barrels of crude oil in June, bringing in revenues of over 2 billion U.S. dollars.

Iraq's total exports of crude oil during 30 days of June reached 84.49 million barrels with an average of 2.81 million barrels per day, a ministry's statement said, citing statistics of the State Organization for Marketing of Oil.

The average selling price for crude oil in June was about 33.86 dollars per barrel, the statement added.

About 81 million barrels were exported from Iraq's central and southern oil fields via Basra ports, while about 3.48 million from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, it said.

Iraq faces an acute financial crisis amid the sharp decline in oil prices in the world oil market in recent months, mainly because of the COVID-19 pandemic and its impact on the global economy.

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