AFP reported that Iraq's revenues from oil, which account for the lion's share of the country's income, were up by about USD 1 billion in July compared to the month before.
Mr Assem Jihad an oil ministry spokesman said that in July, Iraq exported about 2.515 million barrels per day or about 77 million barrels of oil up from around 72 million barrels in June. Oil revenues amounted to about USD 7.535 billion up from USD 6.453 billion in June.
Iraq depends on oil sales for the vast majority of government income. The country currently produces upwards of 3 million barrels per day and Oil Minister Mr Abdelkarim al Luaybi has said it plans to increase output and exports this year to 3.4 million barrels per day and 2.6 million barrels per day respectively.