Iraqi crude exports fall in March

Iraqi oil exports fell in March, averaging 3.296 million barrels per day (bpd), down from 3.398 million bpd in February, according to Oil Ministry data.

Monthly oil revenues increased to about $7.19 billion, up from $6.70 billion, according to an Iraq Oil Report estimate.* Global oil prices were lower in March than February, but Iraq's estimated revenue still grew — both because the government's oil marketing company (SOMO) set more aggressive prices compared to global benchmarks and because there were three more days in the month.