Here is how to do it, but I didn't tell you. (Also the Parsing module is about Parsing, not executing code)
#require "compiler-libs" (* Assuming you're using utop, if compiling then this is the package you need *)
let eval code =
let as_buf = Lexing.from_string code in
let parsed = !Toploop.parse_toplevel_phrase as_buf in
ignore (Toploop.execute_phrase true Format.std_formatter parsed)
example:
eval "let () = print_endline \"hello\";;"
Notice the trailing ;; in the code sample.
To use ocamlbuild, you will need to use both compiler-libs and compiler-libs.toplevel.