Iraqi oil exports flat amidst turmoil

Iraqi crude exports rose by an average of 20,000 barrels per day (bpd) in July from June – a slight increase, though far below expectations articulated by the Oil Ministry three weeks ago.

All of July's oil sales, which averaged 2.442 million bpd, went to market via terminals in the Basra Gulf due to insurgent violence that has taken Iraq's northern oil sector offline and shut down the Iraq-Turkey Pipeline (ITP).