Iraq’s June oil exports, income decline

Iraqi oil exports and revenues fell in June, as more crude went to the domestic market and the global price continued to tumble.Compared to its record month of April, Iraq exported 100,000 barrels per day (bpd) fewer in June and earned $2.34 billion less.But last month's 2.403 million bpd output was still Iraq's third-highest monthly export average in two decades - and at $90 per barrel, it brought the country's revenues in 2012 to nearly $45.5 billion."The reason for the reduction ...