Iraq boosts oil exports to record levels

According to new shipping data analysed by Bloomberg, sixty-two million barrels of crude left Iraqi ports in vessels over the first half of this month. That may yield monthly export of 4.14 million barrels per day, which is a significant jump from the April’s export of 3.252 million barrels per day. 

Iraqi Oil Minister Jabbar al-Luaibi said yesterday that his country backs efforts to extend the limits through March 2018.