MESOPOTAMIA NEWS FORECAST : COLLAPSING  IRAQ PLUS SYRIA  PLUS LEBANON PLUS EGYPT PLUS IRAN  and more

Oil revenues crash, dragging Iraq deeper into crisis  – High April export levels were no match for a spiraling oil price down nearly 80 percent since January. . By BEN VAN HEUVELEN AND BEN LANDO of Iraq Oil Report

Published Saturday, May 2nd, 2020Iraq’s April oil revenues collapsed to their lowest level in more than a decade, dragging the country deeper into a financial crisis that has paralyzed both the federal government and the semi-autonomous Kurdistan Regional Government (KRG).

Nationwide crude sales held relatively steady, averaging 3.854 million barrels per day (bpd) in April.

The federal government posted crude sales of 3.438 million barrels per day (bpd)* – its highest monthly average so far this year – but earned just $1.423 billion, leaving it far short of the cash required to pay public sector salaries and other basic expenses.

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