Iraq Exports Hit 2.23 Million bpd in May

Iraq exported oil at a rate of 2.23 million barrels per day (bpd) in May, with record revenue this year of $7.4 billion, according to Falah al-Amri, chairman of the State Oil Marketing Organization (SOMO)

Iraq sold crude at an average price of $108 a barrel last month, he said today in a telephone interview with Bloomberg.

The port of Basra (pictured) exported 1.725 million barrels of crude a day last month while the oil hub of Kirkuk in the north shipped 490,000 barrels a day. Another 10,000 barrels a day were shipped to Jordan by truck.

(Source: Bloomberg)

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