Iraq exported 107.53 million barrels of crude oil in October, up from nearly 106.8 million in September, marking an increase of 0.68 percent, according to the Oil Ministry.
In a statement on Thursday, the ministry said revenues from last month's exports stood at $8.55 billion based on preliminary figures released by the state oil marketing firm SOMO. Ministry spokesman Assem Jihad said the daily rate of exports averaged nearly 3.47 million barrels in October, down from 3.56 million in the previous month.
He added that the average price per barrel amounted to $74.91 last month, compared to $74.15 in September. The rise in oil prices made up for the fall in daily export volume, leading to a growth in revenue compared to the previous month's level of $7.91 billion.
The figure did not include any exports from the oil fields in the northern province of Kirkuk, where oil activity remains halted since Iraqi forces took over the facilities in response to the September 2017 illegitimate referendum for independence of the Kurdish Regional Government from the central government in Baghdad.
Iraq is OPEC's second largest oil producer after Saudi Arabia.
(Anadolu Agency)
