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Volume
44
Issue
7
7
IRAQ’S OIL EXPORT REVENUES RISE IN
FIRST HALF OF 2018
Iraq’s Oil Minister HE Eng. Jabbar Ali Al Allaibi said the rate
of exports and revenues from crude oil sales for the first half
of the current year 2018 has risen compared to the first half of
last year.
He added that the total revenues for the first half of 2018
amounted to more than $40 billion compared to $27 billion for
the same period in 2017.
HE Al Allaibi pointed out that the total exports in the first half
of 2018 also increased to about 625 million barrels compared to
about 592 million barrels.
He clarified that the average selling price for June 2018 has
risen to about $69 per barrel compared to $42,067 a barrel in
June 2017.
The Minister said this will contribute to reducing the
proportion of the deficit in the federal budget for this year.