Iraqi crude exports hit highest level in more than 30 years [Times of Oman]

BAGHDAD: Iraq's oil exports reached their highest level in more than three decades last month as the country's output has continued to increase, oil ministry officials said yesterday.

Overall exports averaged 2.565 million barrels per day (bpd), bringing in $8.442 billion in revenues on the back of average oil prices of $106 per barrel, Falah Al-Amiri, head of the State Oil Marketing Organisation, said.

Exports averaged 2.516 million bpd in July. "The level of exports was the highest in more than 30 years," according to ministry spokesman Assem Jihad. Iraq has proven reserves of 143.1 billion barrels of oil and 3.2 trillion cubic metres (111.9 trillion cubic feet) of gas, both of which are said to be among the largest in the world.

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