Iraq July Oil Exports: Quantity Dips But Revenues Rise

Iraq’s oil exports for July fell compared to the previous month in volume terms, but revenues rose as average crude prices increased, the oil ministry said on Monday.

AFP reports that Iraq exported 67.2 million barrels in July, down from 68.2 million barrels in June

Revenues were up, at $7.311 billion, compared to $7.173 billion in the previous month.

Average oil prices increased to $108.795 over the course of July, the highest average this year.

Average daily exports in July were 2.17 million bpd, a drop from June’s figure of 2.27 million bpd.

The country’s budget, approved in February, factors in oil prices of $76.50 per barrel and average exports of 2.2 million bpd.

(Source: AFP)

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