Iraqi oil exports brought in record income in April on the back of rising oil prices, breaking a mark set the previous month, the oil ministry said on Monday. Iraq exported a total of 64.2 million barrels of oil last month, generating $7.342 billion (5.247 billion euros) in revenues at an average price of $114.36 (81.73 euros) per barrel, according to figures published on the ministry's website.
The average daily exports of 2.14 million barrels per day were actually lower than March's figure of 2.156 million bpd, but the average price per barrel increased, ensuring Iraq set a new record for monthly oil income. April's figure was the highest for Iraq since 2003, when a US-led invasion toppled dictator Saddam Hussein. The previous high figure was set in March with revenues of $7.167 billion. Oil sales account for around 90 percent of Iraq's government income. The country's budget, approved in February, factors in oil prices of $76.50 per barrel and average exports of 2.2 million bpd.