Iraq's oil exports increase in August


Iraq's August crude oil export increased to 68mn bpd, a jump of about one per cent from the previous month's 67.2mn bpd.

Despite the increase, revenues were down slightly to around $7.126 billion from $7.311 billion in July due to a slump in world oil prices.

Akram Mu'tassam, deputy Iraqi Oil Minister told AKnews that the average daily oil export was 2.189 million barrels in August. Iraq sold its crude oil at an average US$105 a barrel in August, compared with $108.795 a barrel in July.

Iraq's oil revenues reached US$55.7 billion during the first eight months of this year, compared with US$52.2 billion in the whole of 2010.

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