Iraq’s nationwide oil exports held steady in March, averaging 3.367 million barrels per day (bpd), * while revenues surged due to strong global crude prices. The increased revenue is a welcome development for the Iraqi government, which has suffered from a dire financial crisis, and which just passed a 2021 budget law that authorizes 129.99 trillion Iraqi dinars ($89.65 billion) in expenditures. To fully fund that spending with oil sales, given the export levels projected in the budget, oil prices would need to stay well above $60 per barrel for the year. This content is for registered users . Please login to continue. If you are not a registered user, you may purchase a subscription or sign up for a free trial . Iraq Oil Report Attribution Policy […]