Iraq oil exports decline 1.6% in August

23 Sep 2010

(MENAFN) Iraq’s oil ministry said that oil exports have declined by nearly 1.6 percent in August compared to the previous month, Reuters reported.

The ministry said that exports averaged about 1.79 million barrels per day last month, down from 1.82 million barrels a day in July.

Oil revenues, meanwhile, totaled $3.96 billion in August compared to $4.01 billion in July.

Iraq has struggled to raise oil exports, which account for 95 percent of its revenues, hampered by aging infrastructure, the effect of years of sanctions and periodic attacks on pipelines following the 2003 U.S.-led invasion.

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