Iraq oil exports rise 8 percent in April

Iraq’s oil ministry says crude exports in April have increased by more than 8 percent, compared to the previous month, Bloomberg reported.

Oil Ministry spokesman Assem Jihad said Tuesday that last month’s oil exports averaged 2.508 million barrels a day, up from an average of 2.316 million barrels a day in March.

Jihad added that sales grossed $8.8 billion. March’s revenues stood at $8.472 billion.

Iraq’s oil exports have climbed steadily since early this year, with the biggest jump of 15 percent in March. The rise is attributed to the inauguration of two new export terminals in the Persian Gulf since February.

Iraq relies on oil exports for 95 percent of its revenues.