The quantity of oil that Iraq exported in March was revealed by the Iraqi Ministry of Oil, citing final figures from the State Organization for Marketing of Oil (SOMO).
According to a statement by the Iraqi Oil Ministry, the country exported a total of 106.11 million barrels of crude oil in March.
SOMO’s statistics further detail that a total of 104.68 million barrels of crude oil were sold from oil fields located in central and southern Iraq during the month.
An additional 967,492 barrels were also shipped from the Al-Qayyarah oilfield situated in the Nineveh governorate in northern Iraq.
Notably, Iraq’s oil sales to Jordan in March amounted to 464,453 barrels. Comparatively, February saw total exports of crude oil reaching 99,592,311 barrels, generating revenues of $8,025,616 from more than 103.5 million barrels.
In January, Iraq’s average daily oil exports stood at 3,338,982 barrels with an average price per barrel of $77.53. March saw a daily pumping rate of 4.17 million barrels, a slight decline of 30,000 barrels per day from February as reported by Bloomberg.
Despite hitting its lowest production level in a year, Iraq’s output in March still exceeded its OPEC+ commitment by about 170,000 barrels. The Iraqi Minister of Oil, Hayan Abdul-Ghani, had previously stated intentions to reduce production and exports following overproduction in January and February.
