According to governmentdata, Iraq exported 75.25 million barrels of crude oil in April compared to 71.827million barrels in March.
It is learnt that this is the highest monthly figure since 1989 and the export fetched the country $8.8billion in revenues, up from $8.475billion in March. In April, the overall oil exports averaged 2.508 million barrelsper day (bpd) compared to 2.317 million bpd in March.
The country hopes to attain its target of 2.6million barrels per day export. The reason for thisis the two new oil platforms which contributed significantly to creating exportfacilities for Iraqi production.
Iraq's second of five planned floating Gulf oilterminals came online last month, after one began exporting in March,increasing the country's export capacity from the south to 3.5 million bpd. The countrycurrently produces upwards of three million bpd. The country plans to increase output and exportsthis year to 3.4 million bpd and 2.6 million bpd respectively.