Iraq's Monthly Oil Revenues Rise by 4.56% in March to $7.404 Billion

Shafaq News/ Iraq's oil revenues increased on a monthly basis by 4.56% for March to reach $7.404 billion.

Data issued by the Ministry of Oil showed that the total oil revenues for the month of March rose by 4.56% to reach $7.404 billion on a monthly basis, compared to February, when revenues amounted to $7.081 billion.

The total oil revenues from Basra oil exports through the southern ports increased by 6.08% on a monthly basis to reach 7.260 billion dollars compared to February, when the revenues amounted to 6.844 billion dollars.

While oil revenues from Kirkuk crude exports through the Turkish port of Ceyhan decreased by 42.66% on a monthly basis to reach $125 million, compared to February, when revenues amounted to $218 million.

As for oil exports for March, these exports, excluding flows from the Kurdistan Region, increased by 9.38% on a monthly basis in March to reach 100,913 thousand barrels, compared to last February, in which exports amounted to 92,255 thousand barrels.

It s worth mentioning that Iraq has significant oil reserves and has long relied on its oil industry for economic growth and stability.

Oil exports account for over 90% of the country's government revenue. However, Iraq's reliance on oil has made it vulnerable to fluctuations in global oil prices and political instability within the country.