Iraq oil revenues surged above $6 billion in May as the country boosted its monthly crude exports. The Ministry of Oil released detailed data showing strong performance across several key oil-producing regions. Officials noted that total shipments crossed 100 million barrels.
The State Oil Marketing Organization confirmed Iraq exported 101,630,925 barrels last month. so These exports generated $6,361,636,000 in revenue. These earnings reflect rising global demand and stable production levels in Iraq’s main oil fields.
Southern and central fields supplied most of the crude. Workers shipped 100,365,335 barrels from these regions. as well as These fields remain the backbone of Iraq’s oil industry. Their steady output helps secure consistent monthly revenue.
In the north, the Qayyara oil field in Nineveh also contributed. This field produced 955,684 barrels during the month. as well as Though smaller, its output still supports Iraq oil revenues.
Meanwhile, exports to Jordan reached 309,906 barrels. These shipments strengthen regional trade and provide important income. Iraq continues to expand its oil partnerships across neighboring countries.
Global oil markets watched Iraq’s performance closely. Many traders expected solid export numbers after stable production in previous weeks. The figures from May confirmed these expectations and helped support global supply.
Iraq oil revenues play a vital role in funding the national budget. Officials use these earnings to cover public wages, infrastructure, and essential services. Each export increase supports broader economic stability across the country.
The government continues to invest in oil infrastructure to maintain output. Officials plan to modernize equipment and improve export routes. These steps aim to boost efficiency and raise monthly revenues.
In addition, authorities monitor oil prices daily. Any global price rise can increase Iraq oil revenues quickly. as well as Many financial experts believe Iraq’s income could grow even more in the coming months.
Despite regional challenges, Iraq’s oil sector remains resilient. Strong exports and efficient logistics keep the economy moving. Ministry leaders plan to focus on long-term development of both upstream and downstream projects.
Moving forward, Iraq aims to maintain production and expand export destinations. Officials believe the energy sector can drive growth and attract investment. in addition Continued progress in this area will ensure steady income for the country.
With consistent performance, Iraq oil revenues continue to rise. The May figures show strong potential for the rest of the year.