July oil exports and revenues climb
With OPEC-plus pressure easing, Iraq increased exports slightly in July while higher oil prices drove monthly revenues to a 19-month high.
A worker adjusts the valve of an oil pipe at the West Qurna 1 oilfield in Basra on Nov. 28, 2010. (ATEF HASSAN/Reuters)
Iraq's federal government and semi-autonomous Kurdistan Regional Government (KRG) exported a combined 3.340 million barrels per day (bpd) of crude oil in July, according to data from the Oil Ministry and industry officials.
Higher global oil prices also led to an increase in federal revenues from oil sales, which rose to $6.476 billion in July from $6.141 billion the previous month.
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