Iraq oil exports at 3.44 million bpd, revenues more than halve in April: statement

Iraq’s total oil exports for April averaged 3.438 million barrels per day (bpd) and oil revenue more than halved to $1.42 billion, a statement from the oil ministry said on Friday.

The average price per barrel of oil in April was $13.8. Iraq’s revenue from oil, its main source of income, had already reduced in March to $2.98 billion.

OPEC’s second-largest producer of crude faces an economic crisis over falling oil prices and an agreement to cut production by more than 1 million bpd, effective this month.