Baghdad, Iraq – Iraq’s Ministry of Oil has said that the country’s crude oil exports reached over 100 million barrels in June, generating revenue of approximately $7.115 billion.
The preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO) revealed that the majority of these exports – amounting to almost 99 million barrels – originated from the oil fields in central and southern Iraq.
In addition, around 300,000 barrels were exported to Jordan, while exports from Qayyarah totaled over 1 million barrels. The average daily export volume was pegged at over 3.3 million barrels.
The average price per barrel for the month was recorded at $71.11. The Ministry of Oil, committed to transparency, has adopted this monthly reporting procedure to keep the public informed about export operations and the revenues they generate, Iraqi News Agency said.
The high level of oil exports in June is a positive sign for the Iraqi economy, which is heavily reliant on oil revenues. The government is using these revenues to fund infrastructure projects, social programs, and security forces.
