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Iraq Says Exported 2.52 Million Barrels a Day of Oil in July

Iraq’s crude exports in July rose for the third consecutive month to an average of 2.52 million barrels a day, generating sales of $7.5 billion, the head of the country’s State Oil Marketing Organization said.

Iraq shipped most of the crude from the southern terminal of Basra, at an average rate of 2.22 million barrels a day, Falah al-Amri said in a telephone interview from Baghdad. The OPEC-member state exported 294,000 barrels a day on average from northern oil fields through the Turkish port of Ceyhan and also trucked 6,000 barrels a day to Jordan, he said today.

The average selling price in July was $96.50 a barrel, al-Amri said.

Iraqi oil exports averaged 2.4 million barrels a day in June and 2.45 million barrels a day in May, according to Oil Ministry figures. Iraq holds the world’s fifth-biggest crude reserves, based on BP Plc statistics that include Canadian oil sands. The government is seeking investment and expertise to boost oil production and exports after years of conflict, sabotage and sanctions. Iraq is one of 12 members of the Organization of Petroleum Exporting Countries.

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