Iraq had exported 481.2 million barrels, or 1.58 million barrels a day, of crude oil from its southern and northern oil fields during the first 10 months of 2007, the highest level reached since the U.S.-led war on Iraq in 2003, the Iraqi oil ministry said Monday.
Exports in the first 10 months of this year represented an increase of 4% over figures for the whole of 2006. Iraq exported an average of 1.52 million barrels a day in 2006 and 1.41 million barrels a day in 2005, according to Iraqi oil ministry statistics, a copy of which was obtained by Dow Jones Newswires.
The increase in 2007 was due to the resumption of crude oil exports from northern Iraqi oil fields after a suspension of almost four years. The ministry said that a total of 19.2 million barrels were exported from northern Iraq in the first 10 months of 2007.
The ministry said revenue from Iraq's oil sales reached $30.2 billion during the first 10 months of 2007. In October alone Iraq sold 55.8 million barrels worth $4.4 billion, the ministry's statistics showed. Iraq's total oil revenues in 2006 was around $31 billion.