August 2, 2021 | oil and gas

July Oil Exports Generated $6.51 Billion for Iraq


ERBIL — Iraq generated $6.51 billion from exporting over 90 million barrels of crude oil in July.

Country’s Oil Ministry said in a statement on Sunday that it sold one barrel of crude at an average price of $72 last month.

About 87.45 million barrels were exported from Iraq's central and southern oil fields via the Port of Basra, while about 3.01 million barrels from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, Xinhua cited the statement.

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

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