Iraqi crude export revenues jumped more than 4% month-on-month a 16-month high of $6.142bn for June, up $250mn on May’s $5.882bn and the highest since January 2020’s $6.613bn. This was despite export volumes staying broadly flat at 2.915mn b/d, up just 16,000 b/d from May levels (MEES, 11 June).

Rather, the gains were due to the recent surge in oil prices, which pushed the average export price of Iraqi crude up to a 32-month high $70.78/B. (CONTINUED - 151 WORDS)