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Iraq oil exports hit record 3.187 million bpd in June

Exports from Iraq’s southern terminals rose to an average 3.02 million bpd in June from 2.69 million bpd in May

Published: Updated:

Iraq’s oil exports rose in June to a record average of 3.187 million barrels per day (bpd) from 3.145 million in May, the oil ministry said on Wednesday.

Exports from Iraq’s southern terminals rose to an average 3.02 million bpd in June from 2.69 million bpd in May, it said, marking the highest exports from the south in decades.

Shipments have jumped after Iraq’s decision to split the crude stream into two grades, Basra Heavy and Basra Light, to resolve quality issues.

Some companies working in Iraqi oilfields have increased production following the move.

Exports from Iraq’s north via Ceyhan in Turkey, comprising Iraq’s Kirkuk crude and Kurdish oil, averaged 164,700 bpd in June, down sharply from May’s 451,000 bpd.

Revenue from Iraq’s June oil sales reached $5.318 billion, the ministry said.