Oil exports from the south of Iraq are heading for a new post-war record in April after the start-up of a new floating offshore loading facility last month, according to a report.

Exports from oil-hub Basra and the new facility have averaged 2.11 million barrels a day (b/d) during 1-16 April compared with an average of 1.92 million b/d in March, according to data tracked by Reuters.

The second of four offshore terminals is expected to be completed during mid-April. The joint project of South Oil Company (SOC) and Iraq Crude Oil Export Expansion Project (ICOEEP) has a planned final capacity of 4.5 million barrels a day (b/d).

During March, Iraqi crude exports reached their highest level since 2003. A sustained increase in exports could help alleviate the current spike in crude prices.