Shafaq News / Iraq's financial revenues from oil exports decreased by 5% on a monthly basis for the month of May, reaching $7.306 billion, despite an uptick in those exports.
According to data from the Ministry of Oil, the total financial revenue from oil exports for the month of May decreased by 5.1% to reach $7.306 billion on a monthly basis, compared to April when revenues amounted to $7.699 billion.
The total oil revenues from Basra oil exports via the southern ports also dropped by 5.3% on a monthly basis, reaching $7.291 billion, compared to April's revenues of $7.699 billion.
Data reveals that Iraq did not export any oil from the Kirkuk fields through the Jihan port.
Regarding oil exports in May, these exports increased by 3.74% on a monthly basis, reaching 102.463 million barrels, compared to the previous month of April, which saw exports of 98.634 million barrels.
The decline in oil revenues for May, despite the increase in exports, is attributed to the decrease in oil prices, which averaged $71.30 per barrel, compared to April when prices averaged $79.04 per barrel.