OREANDA-NEWS. Iraq's crude exports from its southern terminals were 3.18mn b/d in June, down from 3.2mn b/d in May and falling further below April's record rate of 3.36mn b/d.

The country exported 95.26mn bl, according to preliminary data from the federal government's oil ministry, below May's 99.2 bl. Preliminary Argus tracking data show Iraq exported 94.8mn bl in June, putting the monthly rate a touch below the oil ministry's data.

Tracking data show the breakdown at 2.27mn b/d of Basrah Light and 895,000 b/d of Basrah Heavy exports — the latter its highest level since the Basrah grade split in June last year. Actual June loadings compare with a preliminary scheduled allocation of 2.57mn b/d of Basrah Light, and 900,000 b/d of Basrah Heavy.

Baghdad's oil revenues rose to $3.85bn in June, from $3.75bn in May, buoyed by the average export price rising to $40.37/bl from $37.78/bl.