The Ministry of Oil has announced that its earnings for the month of December have exceeded $8 billion, according to preliminary statistics released by the State Organization for Marketing of Oil (SOMO).

The total amount of crude oil exports for the month was 108.56.590 million barrels (mmbbl), generating revenues of $8.316 billion.

Notwithstanding, Iraq’s November oil exports dipped to 3.433 million barrels per day (bbl/d), coming off an eight-month high of 3.534 million bbl/d achieved in October. The monthly fall in export volumes and lower international oil prices resulted in a drop in monthly revenues of $1.2 billion.

The ministry further stated that the overall amounts of crude oil exported from the central and southern oil fields in Iraq totaled 107.592.532 mmbbl. Additionally, 464.58 thousand barrels were exported to Jordan. The average price per barrel for the month was $76.96, with daily quantities exported reaching 3.486 million bbl/d.

“The ministry has taken this monthly measure because it believes in informing the public about the export operations and the revenues generated from them,” the Iraqi Oil Ministry stated.