Price Collapse Halves Iraq’s Oil Revenues

Iraq saw its oil revenues cut nearly in half in March when oil prices collapsed, even though OPEC’s second-largest producer exported more barrels of crude last month than it did in February. According to data from Iraq’s oil ministry, cited by AFP - Agence France Presse, Iraq’s crude oil sales amounted to 105 million barrels in March. For these barrels, Iraq earned a revenue of US$2.99 billion. To compare, Iraq’s February sales of 98.3 million barrels of crude oil earned OPEC’s producer almost twice that, at US$5.5…