Iraqi crude exports jump to near-record levels in May

The federal government and KRG both increased their oil sales, combining for the second-highest monthly export average that Iraq has ever posted.
Oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS). (UMIT BEKTAS/Reuters)

Iraqi oil exports from both the federal government and the autonomous Kurdistan Regional Government (KRG) increased in May, combining for 4.086 million barrels per day (bpd) – the second-highest monthly average ever.

The federal government reported selling an average 3.572 million bpd – a more than 3 percent increase from April – commanding an average sale price of $66.19 per barrel and earning $7.329 billion, the largest monthly haul since last October.*

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