Iraq’s oil revenue in April was the highest in months

Gas burns off at the al-Shuaiba oil refinery in southwest Basra, Iraq April 20, 2017. REUTERS/Essam Al-Sudani

UNITED STATES (VOP TODAY NEWS) — Iraq recorded a record high in crude oil revenues in April after rising prices on the back of the crisis between Tehran and Washington, according to an official statement of the Ministry of Oil.

The volume of exports of crude oil amounted to about 104 million barrels with revenues of $ 7.02 billion.

The ministry spokesman Assem Jihad said the average price of a barrel amounted to 67.51 dollars.

He pointed out that the exported quantities were loaded by 37 international companies of different nationalities, from the ports of Basra and Khor al-Amayah and the monsoons on the Gulf and the Turkish port of Ceyhan.

Iraq earned $ 6.7 billion in March, the same rate as exports for April.

Oil prices have risen recently as tensions between Iran and the United States have escalated since Washington tightened oil sanctions on Tehran in early May, and then the administration of US President Donald Trump announced the dispatch of an aircraft carrier to the Gulf to counter any Iranian threats.


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