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    Iraq increased oil exports in April

    IMF is expected to give 5.7 bln USD loan to Iraq

    Baku. 23 May. REPORT.AZ/ Daily oil exports in Iraq, OPEC’s second-largest producer, increased by 76 mln or 2.3% compared to March and reached 3.363 million barrels.

    Report informs referring to the State Oil Marketing Organization (SOMO).

    So in March, the average daily oil production in Iraq reached 3,287 million. per barrel. Overall, Iraq exported 100.9 million barrels of oil in April. Thus, revenues from Iraq's oil exports in April amounted to 3,368 bln USD, while the average oil price was 33.38 USD / barrel. Export revenue in March amounted to 2,894 bln USD.

    Iraq currently ranks 5th in the world oil reserves. After the long wars the country rapidly developing energy sector.

    Notablyç in the coming days, the International Monetary Fund (IMF) is expected to give 5.7 bln USD loan to Iraq to cover the budget deficit. Thus, the budget deficit for 2016 is projected to be 21 bln USD.

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