Iraq’s oil revenue could break records but will it help ordinary people? – The National

Iraq’s oil revenue could break records but will it help ordinary people? – The National

Iraq’s oil revenue is approaching a historic high, hitting $8.27 billion in January — on track to beat the April 2012 all-time record for the country of $8.8bn if oil prices keep rising.

“Revenue could be more than $9 billion a month,” says Sajad Jiyad, an analyst at the Century Foundation think tank, citing a tight oil market and relatively stable Iraqi production.

That would give Iraq more money in a single month than Sudan’s entire 2022 proposed budget — a country with two million more people.