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Oil revenues crash, dragging Iraq deeper into crisis

High April export levels were no match for a spiraling oil price down nearly 80 percent since January.
A Basra Gas Company worker at the Nahr Bin Omar oil field takes part in the opening of a new pipeline sending gas to the national network on Jan. 12, 2017. (JASSIM AL-JABIRI/Iraq Oil Report)

Iraq's April oil revenues collapsed to their lowest level in more than a decade, dragging the country deeper into a financial crisis that has paralyzed both the federal government and the semi-autonomous Kurdistan Regional Government (KRG).

Nationwide crude sales held relatively steady, averaging 3.854 million barrels per day (bpd) in April.

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