Iraq crude exports steady in March

Oil sales were undiminished in March despite the Oil Ministry recommitting to supplemental OPEC-plus cuts that now extend through June.
Oil Minister Hayyan Abdulghani (left) and SOMO Director General Ammar al-Anbagi (second from left) participate by videoconference in a meeting with ministers representing the OPEC-plus coalition on April 3, 2024. (Photo credit: Oil Ministry)

Iraq's oil exports held steady in March, averaging 3.423 million barrels per day (bpd) compared with 3.434 million bpd in February, according to Oil Ministry data* seen by Iraq Oil Report.

The ministry has not published revenue figures for the past two months, but an Iraq Oil Report analysis based on Iraq's historical pricing trends and international benchmarks shows that March crude sales amounted to roughly $8.7 billion.

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