Iraq exported about 106.75 million barrels of crude oil in July, generating 8.29 billion U.S. dollars in revenue, the country’s Oil Ministry announced on Tuesday.
The average price of Iraqi crude oil in July was 77.69 dollars per barrel, the ministry said in a statement, citing statistics from the State Organization for Marketing of Oil, an Iraqi company.
About 105.48 million barrels were exported from oil fields in central and southern Iraq via the port of Basra, and 922,755 barrels from the Qayyara oilfield in the northern province of Nineveh, and 344,804 barrels were sent to neighboring Jordan during the month, the statement said.
Oil exports from the northern province of Kirkuk via the Turkish port of Ceyhan on the Mediterranean were suspended after Baghdad won an arbitration case against Türkiye in late March over a long dispute on the independent export of oil by Iraq’s semi-autonomous Kurdistan Regional Government.
On April 4, the Iraqi federal government and the Kurdish regional government signed an interim agreement to resume Kurdish oil exports via Türkiye. But Türkiye continued to halt the oil flow, saying it wants to negotiate the arbitration before oil exports resume.
Iraq’s economy heavily relies on crude oil exports, which account for more than 90 percent of the country’s revenues.