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Iraq’s Oil Output Climbs to Record as South Escapes Fighting

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Iraq’s crude production climbed to an all-time high in July with record exports from southern terminals mostly unscathed by Islamic State militants.

Output in OPEC’s second-largest crude producer rose to 4.18 million barrels a day last month from 4.15 million in June, according to the International Energy Agency monthly report on Wednesday. Giant fields in the south cranked out record Basra crude exports of 3.06 million barrels a day, up about 40,000 barrels from June, it said.