Iraq's revenues from oil sales in April climbed to $8.79 billion, the highest the Middle Eastern country has achieved for decades, the oil ministry said in a statement, adding that Iraq had sold its oil at an average price of $116.8 a barrel. In April, Iraq exported an average of 2.508 million barrels a day, the highest figure it had reached since 1989, the ministry said.
The country's crude oil exports have stated to increase thanks to the operation of two new sea-borne export terminals in the Gulf.
Oil began loading March 8 from the new Single-Point Mooring buoy in the Gulf–the first of five, each with a loading capacity of 900,000 barrels a day.
A second 900,000-barrels-a-day SPM, built as the first by Leighton Offshore, a subsidiary of Australia's Leighton Holdings Ltd., began loading vessels in April.
Market Watch
22 May
