Baghdad (IraqiNews.com) – The Iraqi Oil Ministry said on Tuesday that it exported more than 110 million barrels of crude oil in May, bringing in revenues of over $7 billion.
“Iraq’s total exports of crude oil in May reached about 110,737,293 barrels, bringing in revenues of 7.2 billion dollars,” Iraqi website Alghad Press quoted the ministry spokesman, Asim Jihad, as saying in a press statement.
The average selling price was 66.190 dollars per barrel last month, the statement said.
“Iraq exported 106.6 million barrels from the country’s central and southern oil fields, and 3.16 million barrels from the northern province of Kirkuk, in addition to 894,528 barrels of oil from Qayyara oil field,” it added.
Iraq, the second-largest producer in the Organization of the Petroleum Exporting Countries, exported 3.466 million barrels per day (bpd) in April.
Iraq is producing below its maximum capacity of nearly 5 million bpd in line with a production-cutting agreement between OPEC and allies such as Russia aimed at supporting prices.