The value of petroleum exports rose 20% to reach $1.8 billion in the first quarter of fiscal year (FY) 2017/2018, Amwal Al Ghad reports.

This number is up from $1.5 billion during the first quarter of FY 2016/2017.

Exports of petroleum were up 16.66% during the first eight months of calendar year 2017, from $1.8 billion in 2016 to $2.1 billion in 2017, Amwal Al Ghad had previously reported.

Increases in crude oil exports comprised most of the jump between January and August, as crude exports rose by $222 million from $213 million in 2016 to $435 million in 2017.

Since January 1st, Brent crude prices have risen 11%, according to Bloomberg.