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Commodities

Iraq oil exports at 3.44 million bpd, revenues more than halve in April: statement

FILE PHOTO: A worker sprays disinfectant as a preventive measure against coronavirus, at Nahr Bin Umar oil field, north of Basra, Iraq March 15, 2020. REUTERS/Essam Al-Sudani

BAGHDAD (Reuters) - Iraq’s total oil exports for April averaged 3.438 million barrels per day (bpd) and oil revenue more than halved to $1.42 billion, a statement from the oil ministry said on Friday.

The average price per barrel of oil in April was $13.8.

Iraq’s revenue from oil, its main source of income, had already reduced in March to $2.98 billion.

OPEC’s second-largest producer of crude faces an economic crisis over falling oil prices and an agreement to cut production by more than 1 million bpd, effective this month.

Reporting by John Davison, additional reporting by Hesham Abdul Khalek in Cairo

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