BASRA - Iraq notched its third straight record-setting month of oil exports in May, and is poised for further growth in June due to an overhaul of how oil is blended and marketed in Basra.
May exports averaged 3.145 million barrels per day (bpd), according to the Oil Ministry, up from 3.077 million bpd in April. The average sale price was also higher – $55 in May compared to $51 in April – and revenues rose from $4.8 billion to more than $5.3 billion.
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