Iraq oil exports hit 30-year high

Iraq oil exports in August averaged 2.6 million barrels a day. Iraq made $8.4 billion from its oil exports.

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    In this August file photo, Iraqis fill up at a gas station in Baghdad, Iraq. Iraq is fast becoming an oil producing powerhouse. Last month, Iraq oil exports hit their highest level in more than 30 years.
    Karim Kadim/AP/File
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Iraq's Oil Ministry says crude oil exports have averaged 2.565 million barrels a day in August, the highest level in more than three decades.

Ministry spokesman Assem Jihad said Sunday that last month's revenues stood at $8.442 billion based on an average price of $106 for each barrel. Jihad added that 2.252 million barrels a day were exported through the Persian Gulf and another 313,000 barrels were sent through Turkey's Ceyhan port.

Iraq's oil exports have climbed steadily since last year, thanks to a handful of international oil companies operating in Iraq and to the inauguration of two new export terminals in the Persian Gulf early this year.

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Iraq holds the world's fourth largest oil reserves, some 143.1 billion barrels.


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