Iraq: Iraq's South Oil Exports Rise to Near-Record, Avoid Northern Conflict

Jul 23, 2014 | Alex Lawler, Reuters
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LONDON, July 23 (Reuters) - Iraq's oil exports from its southern terminals in July rose to a near-record rate, according to loading data and industry sources, remaining unaffected by fighting in other parts of the country.

An advance by Sunni militants who seized swathes of northern Iraq last month raised concern Iraqi exports could slow down and briefly boosted global oil prices to a nine-month high above $115 a barrel.

Exports from Iraq's southern terminals have averaged 2.52 million barrels per day (bpd), according to shipping data for the first 23 days of July tracked by Reuters. Two industry sources who also monitor the exports had similar estimates.