Federal Iraq sent 649,000 b/d of its crude oil to refineries in August, outstripping the previous monthly record of 640,000 b/d set in October 2013 before the Islamic State blew up a large proportion of its refining capacity (see chart). This has been achieved thanks to intensive repair work undertaken by the government over the past 18 months.

The latest refining numbers were released this week by Riyadh-based Jodi and when September figures are released next month there is every chance that this new record will have been eclipsed. (CONTINUED - 802 WORDS)