AFP reported that Iraq's oil exports and revenues were slightly higher in October compared to the previous month.
Mr Assem Jihad oil ministry spokesman said that Iraq exported 81.3 million barrels of oil in October for an average of about 2.62 million barrels per day compared with about 2.6 million barrels per day in September.
Mr Jihad said that the revenues from October oil exports were USD 8.578 billion earned at an average price of USD 105.51 per barrel. Iraq earned USD 8.4 billion from oil exports in September. Iraq has proven reserves of 143.1 billion barrels of oil and 3.2 trillion cubic meters of gas both of which are among the largest in the world.
Crude exports account for the lion's share of government income, and Baghdad is looking to dramatically ramp up both production and sales in the coming years, bringing in much needed cash to rebuild its conflict-battered economy.
