Iraq's oil exports average 2.76 mln bpd in July, says ministry

Iraq's total oil exports for July averaged 2.763 million barrels per day (bpd), the oil ministry said in a statement on Saturday. The exports included 2.668 million bpd from its southern Basra oilfields, it said, adding that total exports generated $3.487 billion of revenue.

Iraq's total oil exports for July averaged 2.763 million barrels per day (bpd), the oil ministry said in a statement on Saturday. The exports included 2.668 million bpd from its southern Basra oilfields, it said, adding that total exports generated $3.487 billion of revenue. The oil price per barrel averaged $40.70.

Iraq which relies almost entirely on oil for state revenue has been hit hard by low oil prices during the coronavirus crisis and has cut exports in line with OPEC production cuts.