Venezuela, Nigeria Raise June Oil Exports, Iraq Cuts, Jodi Says
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Venezuela, the holder of the world’s largest oil reserves, and Nigeria both increased shipments of crude in June, while Iraq cut exports during the month, according to the Joint Organization Data Initiative.
Venezuelan exports rose 10.6 percent from a month earlier to 1.72 million barrels a day and Nigeria shipped 2.49 million barrels a day, 18 percent more than May, according to statistics the governments submitted to OPEC and posted on JODI’s website today. Iraq, the second-largest producer in the 12-member Organization of Petroleum Exporting Countries, decreased shipments by 2 percent to 2.4 million barrels a day, Jodi data showed.