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Wed. May 22nd, 2024

The Iraqi Ministry of Oil announced on Monday the quantity of oil Iraq exported during March, according to the final figures issued by the State Organization for Marketing of Oil (SOMO).

The Iraqi Oil Ministry mentioned in a statement that Iraq’s crude oil exports reached 106.11 million barrels of oil in March.

According to SOMO statistics, 104.68 million barrels of crude oil were sold in total from oil fields in central and southern Iraq in March. Additionally, 967,492 barrels were shipped from the Al-Qayyarah oilfield located in the Nineveh governorate in northern Iraq.

Iraq’s oil sales to Jordan during March were 464,453 barrels, according to SOMO.

The total exports of crude oil during February were 99,592,311 barrels, compared to more than 103.5 million barrels, with revenues reaching $8,025,616.

Iraq’s average daily oil exports in January reached 3,338,982 barrels, while the average price per barrel reached $77.53.

Iraq pumped 4.17 million barrels per day in March, 30,000 barrels per day less than the output in February, according to Bloomberg.

While this is the lowest production level for Iraq in a year, it is still about 170,000 barrels more than the level it committed to as OPEC+ members agreed to restrict production.

The Iraqi Minister of Oil, Hayan Abdul-Ghani, said last month that the country would reduce production and exports after exceeding its production quota in January and February.

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