AFAQ NEWS
Iraq has lost $11 billion in oil revenues since the outbreak of the novel coronavirus crisis this year, according to industry sources
State Organisation for Marketing of Oil (SOMO) said in a bulletin today that during the first four months of the year, Iraq sold about 410 million barrels of crude at a price of approximately $38 per barrel with total revenues reaching about $15 billion, compared with the same period of 2019 when it sold about $423 million at a price of 62 dollars per barrel with total revenues amounting to about 26 billion dollars.
Oil prices in the global market nosedived this year amid the COVID-19 crisis as the world economy stagnated and demand dropped sharply.
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