Iraq’s Oil Ministry has announced it has exported 109.84 million barrels in July 2018, or 3.54 million barrels a day (b/d), citing official figures from the State Organization for Marketing of Oil (Somo).

Based on an average oil price of $69.16 a barrel in July, the Oil Ministry said it earned revenues worth $7.59bn from crude exports in the month.

The oil exported was produced from the assets in the country’s central and southern regions, and does not take into account crude output from the oil-rich north that includes Kirkuk and the semi-autonomous Kurdistan region.

The country’s crude is exported from the southern ports of Basra, Khor al-Omaia and the single point moorings on the Gulf.

Iraq, Opec's largest oil producer after Saudi Arabia, has been holding its exports steady this year, despite not being able to claim the northern oil due to Baghdad’s tensions with Erbil.

The country exported 3.52 million b/d in June and 3.49 million b/d in May.