Oil revenues rise despite export dip
Poor weather and power outages cut into exports but an upward trend in the global oil price puts more money in Iraqi coffers.
A tanker at the al-Basra Oil Terminal loads crude at night on Feb. 21, 2010. (BEN LANDO/Iraq Oil Report)
VIENNA - Iraq earned its largest oil payout in eight months due to rising oil prices, even though the federal government's May exports declined by nearly 5 percent.
"The market is improving," said Deputy Oil Minister Fayyadh Nema as he arrived in Vienna ahead of Thursday's OPEC meeting.
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