Iraq exports at highest level since 2003

Rising high: crude exports from Iraq hit their highest level since the US-led invasion in 2003

Iraq's crude exports rose to their highest level since 2003 last month, at 2.317 million barrels per day from 2.014 million bpd in February thanks to a new offshore export terminal.

Revenue from the exports totalled $8.4 billion, with each barrel of oil priced at $118, Reuters quoted State Oil Marketing Organisation chief executive, Falah Alamri, as saying.

Iraq opened a new offshore floating oil export terminal in the Gulf earlier this month, marking a major increase in the country's export capacity.

"This is the highest (export) figure that Iraq has managed to achieve after 2003," Falah Alamri told Reuters. "The floating terminal will help us to increase oil exports for this month and next month."

The second of four new single-point mooring terminals is…

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