Iraq exported about 98.63 million barrels of crude oil in April, generating 7.79 billion U.S. dollars in revenue, the country’s oil ministry announced Tuesday.
The average price for Iraqi crude oil in April was 79 dollars per barrel, the ministry said in a statement, citing statistics from the State Organization for Marketing of Oil, an Iraqi company.
It said that all crude oil exports during the month were from oil fields in central and southern Iraq via the port of Basra.
In late March, Iraq halted the exports of some 450,000 barrels per day of oil from its northern fields to the Turkish Mediterranean port of Ceyhan through a pipeline, after it won an arbitration case against Türkiye over a long dispute on the independent export of oil by the semi-autonomous Kurdistan Regional Government.
On April 4, the Iraqi federal government and the Kurdish regional government signed an interim agreement to resume Kurdish oil exports via Türkiye. But Türkiye continued to halt the oil flow, saying it wants to negotiate the arbitration before oil exports resume.
Iraq’s economy heavily relies on crude oil exports, which account for more than 90 percent of the country’s revenues.