Iraq posts record oil exports in July

Iraqi exports of 2.516 million barrels per day (bpd) last month mark the highest average monthly output in decades, eclipsing a record set in April of 2.508 million bpd. Exports have been up and down so far this year, but have never dropped below 2 million bpd. Oil sales totaling $7.5 billion in July pushed Iraq's 2012 revenues to $52.94 billion. "The exports achieved from Basra are 2.216 million bpd," said Falah al-Amri, director general of the State Oil Marketing Organization. "From Ki...