Iraqi crude exports dip slightly under UN's humanitarian oil-for-food scheme

Showing a slight decrease over the last week, Iraq exported just over 1.1 million barrels of crude each day under the United Nations oil-for-food programme, which allows Baghdad to use a portion of its petroleum revenues to purchase humanitarian relief.

According to the UN Office of the Iraq Programme, Baghdad earned an estimated €215 million (euros), or $210 million, in revenue by selling 7.9 million barrels of oil in the week ending 27 September. The average price of Iraqi crude oil was €27.10, or $26.55, per barrel.

With a persisting revenue shortfall accrued in earlier phases, over 1,300 approved humanitarian supply contracts worth more than $2.36 billion are without funds. The sectors affected by the revenue shortfall are food handling, agriculture, electricity, housing, water and sanitation, health, education, telecommunications, transportation and food.