Iraq's oil revenues doubled in 2022: official data

Shafaq News/ Iraq's crude oil exports rose by 5% on average in 2022 compared to the previous year, with the country's treasury generating over $115 billion in oil revenues.

According to official data, Iraq's average crude oil exports to the global market reached around 3.6 million barrels per day (bpd) in 2022, up from 3.43 million bpd in 2021.

April 2022 saw the highest volume of Iraqi oil exports during the past year, with an average of 3.41 million bpd, followed by October with a quantity of 3.381 million bpd.

In contrast, January 2022 saw the lowest level of Iraqi oil exports throughout the year, with an average of 3.202 million bpd, followed by March with an average of 3.244 million bpd.

The country's revenues from oil exports jumped by 34.48% in 2022 to reach $115.466 billion, up from $75.65 billion in 2021, bolstering the economy despite ongoing challenges posed by the COVID-19 pandemic and political instability.