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FINANCIAL NEWS
Iraq oil exports in July hit 2.164m bpd
02 Aug 2011
(MENAFN) Head of the Iraqi State Oil Marketing Organization (SOMO), Falah Alamri, said that the country’s oil exports went down to 2.164 million barrels per day (bpd) last month compared to 2.275 million bpd reported a month before, reported Arab News.
Alamri said that the reason behind the decrease in exports was the increase in local domestic consumption of electricity in the summer, pushing up the local usage of crude oil.
It is worth noting that Iraqi’s struggle with high temperatures in summer which frequently hits 50 degrees Celsius.
The country had been pushing towards more oil production since the beginning of the current year.
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