The average price per barrel was 73.64 dollars in December, based on the State Organization for Marketing of Oil data.
Oil Exports from Basra and Ceyhan Ports
Most of the 100.7 million barrels were exported from the oil fields in central and southern Iraq via the port of Basra. The remaining 2 million barrels were shipped from northern Kirkuk to the Turkish port of Ceyhan.
Impact of Russia-Ukraine Crisis on Global Oil Prices
The global oil prices have risen due to the Russia-Ukraine crisis since February last year, benefiting Iraq and other oil-exporting countries. However, a decline in oil prices has recently been observed due to fears of reduced demand.
Iraq's Economy Reliant on Crude Oil Exports
The majority of Iraq's revenues, over 90 percent, come from crude oil exports, making it a crucial part of the country's economy.
