Iraq Boosts Crude Exports

(Sources: upstreamonline.com, Bloomberg, Assoc. Press)

Iraq’s oil exports increased by more than 7% in May compared to the previous month, according to Oil Ministry spokesman, Assem Jihad.

Bloomberg reported Jihad said daily exports averaged 1.89 million barrels per day last month, an increase of about 7.4% from the 1.76 million bpd in April.

Jihad added that May’s revenues stood at about $4.3 billion with an average price of $73.85 a barrel, while April’s oil exports grossed $4.2 billion.

Iraq exported a total of 45.1 million barrels through the Persian Gulf while 13.6 million barrels were sent through Turkey’s Ceyhan port, according to Jihad.

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