Iraq's oil revenues rise 5.29% in April despite export decline

Shafaq News / Iraq's oil revenues experienced a 5.29% increase in April, reaching $7.404 billion despite a decline in oil exports.

The Iraqi Ministry of Oil announced on Tuesday the total oil exports and revenues realized in the previous month, revealing that 98,634,947 barrels were exported, generating $7.796 billion in revenues.

According to a dataset and statistics released by the Ministry of Oil, obtained by Shafaq News Agency, the total oil revenues for April surged by 5.29%, amounting to $7.796 billion on a monthly basis, compared to March's revenues of $7.404 billion. The total oil revenues from Basra's oil exports through the southern ports rose by 6.88% on a monthly basis, reaching $7.796 billion, compared to March's revenues of $7.260 billion.

The data indicated that Iraq did not export oil from the Kirkuk fields via the Ceyhan port, nor did it export crude oil to Jordan through pipelines. As for April's oil exports, they declined by 9.38% on a monthly basis, totaling 98,634,000 barrels, compared to March's exports of 100,913,000 barrels.

The increase in oil revenues for April, despite the decrease in exports, is attributed to a rise in oil prices during the previous month, reaching $79.04 per barrel, compared to March's price of $74.385 per barrel.