Iraq earned nearly $8.8bn in crude oil exports during April driven by increased capacity in the southern export hub of Basra, reaching a new post-war record.

April revenues rose 3.8 per cent compared with March, with the export of 75.3 million barrels of crude oil, or 2.51 million barrels a day (b/d), according to the latest Oil Ministry data.

Monthly export figures from Basra to the Gulf rose 10.4 per cent to 2.12 million b/d after the start-up of a new floating offshore loading facility in March. Southern oil revenues increased 6.5 per cent against March levels to $7.5bn.

At the same time, exports from the northern oil hub of Kirkuk dropped 0.2 per cent in April to 0.39 million b/d, while revenue was down 1 per cent to $1.35bn.

The average price of crude oil exported from Iraq was $116.8 a barrel in April compared with $117.99 a barrel in the previous month.