Iraq’s oil exports dip in March by 11 percent, bad weather is blamed

Iraq’s oil exports dip in March by 11 percent

BAGHDAD — Iraq says oil exports dipped 11 percent in March from the previous month due to bad weather.

Oil Ministry spokesman Assem Jihad said Tuesday that last month’s daily exports averaged 1.84 million barrels, down from 2.068 million barrels a day exported in February.

But he says March revenues inched up to $4.351 billion with an average price of $76.2 a barrel. February revenues stood at $4.229 billion.

He says 44 million barrels were exported through the Persian Gulf, while 13.1 million barrels were exported via Turkey’s port of Ceyhan.

The crude was sold to 27 international oil companies.

Oil sales account for about 95 percent of Iraq’s revenues and are a vital part of its reconstruction efforts.