Iraq saw its oil revenues cut nearly in half in March when oil prices collapsed, even though OPEC’s second-largest producer exported more barrels of crude last month than it did in February. According to data from Iraq’s oil ministry, cited by AFP – Agence France Presse , Iraq’s crude oil sales amounted to 105 million barrels in March. For these barrels, Iraq earned a revenue of US$2.99 billion. To compare, Iraq’s February sales of 98.3 million barrels of crude oil earned OPEC’s producer almost twice that, at US$5.5 billion. The federal government of Iraq sold its 3.390 million bpd of oil exports at an average price of $32.73 a barrel, Iraq Oil Report quoted the oil ministry as saying. Iraq’s oil typically trades at around $4 a barrel discount to Brent, so in the past couple of weeks, Iraq’s crude oil was selling for $21 a barrel, Oil Minister […]