Iraq August oil exports hit 73 million barrels, highest since 2003

TREE NEWS update: Iraq sold 73 million barrels of oil in August, the highest monthly export level since the 2003 US-led invasion, head of state marketer SOMO. Revenue from the OPEC member’s sales reached about $4.5 billion. Southern terminals exported roughly 70 million barrels. Basra Medium crude was priced at a $25 per barrel discount, Basra Heavy at $29, versus a $14 discount in July.