Iraq exports over 100 mln barrels of crude oil in October

Iraq exported 104.83 million barrels of crude oil in October, generating 9.25 billion U.S. dollars in revenue, the country’s oil ministry announced Tuesday.

The average price for Iraqi crude oil in October was 88.31 dollars per barrel, the ministry said in a statement, citing statistics from the State Organization for Marketing of Oil.

A total of 102.7 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, while more than 2 million barrels were exported from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean, the statement said.

Oil prices have risen in global markets since the outbreak of the Russia-Ukraine crisis in February, benefiting Iraq and other oil exporting countries.

Iraq’s economy heavily relies on crude oil exports, which account for more than 90 percent of the country’s revenues.

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