The average price of Iraqi crude oil in October was 88.31 dollars a barrel, according to the Ministry, citing data from the State Organisation for Marketing of Oil
According to the country’s Oil Ministry, Iraq exported 104.83 million barrels of crude oil in October, earning USD 9.25 billion in income.
According to the Ministry, the average price of Iraqi crude oil in October was 88.31 dollars a barrel, citing data from the State Organisation for Marketing of Oil.
According to the statement, a total of 102.7 million barrels were sold from oil fields in central and southern Iraq via the Port of Basra, while more than 2 million barrels were transported from the northern region of Kirkuk via the Turkish port of Ceyhan in the Mediterranean Sea.
According to the Xinhua news agency, oil prices have risen in global markets since the start of the Russia-Ukraine war in February, helping Iraq and other oil exporting countries.
Iraq’s economy is primarily reliant on crude oil exports, which generate more than 90 per cent of the country’s revenue.
Iraq is one of thIndia’s major oil suppliers andas a share of 20.5 per cent in india’s total imports.
Source: BW Businessworld, November 2, 2022
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