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Iraq's oil exports increase in July
[August 27, 2008]

Iraq's oil exports increase in July

(Associated Press WorldStream Via Acquire Media NewsEdge) BAGHDAD_The Iraqi Oil Ministry says that oil exports in July inched up to 58.8 million barrels _ a 0.7 percent increase from the previous month.

Wednesday's ministry statement says the barrel was sold at an average price of $113.8 and yielded $6.692 billion. June's price stood at $123 a barrel.

The statement adds that 46.9 million barrels were exported through the country's south and 11.9 million barrels from the north, from Turkey's port of Ceyhan. The oil was uploaded by 19 international oil companies.

In May, Iraq saw its highest oil exports since the U.S.-led invasion in 2003, with 62.4 million barrels.

Iraq sits on the world's third-largest oil reserves with about 115 billion barrels.

Copyright ? 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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