Iraq oil exports jump nearly 15 percent in March

BAGHDAD (AP) — Iraq says oil exports jumped by 15 percent in March compared to the previous month, putting them at the highest level the nation has seen since 1989.

Oil Ministry spokesman Assem Jihad said Sunday that last month's oil exports averaged 2.31 million barrels a day, up from an average of 2.01 million barrels a day in February.

He added that the sales grossed $8.472 billion, an increase of nearly 28.5 percent from February's revenues of $6.595 billion.

The oil was sold to a 28 international oil companies.

Iraq relies on oil exports for 95 percent of its revenues. The increase is attributed to the inauguration of a new export terminal in the Persian Gulf last month.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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