Oil export boom surpasses IMF’s expectations

BAGHDAD / IraqiNews.com: The Iraqi Ministry of Oil has managed to achieve a significant increase in oil exports that surpassed the expectations of the International Monetary Fund (IMF), a ministerial spokesperson said on Wednesday. “Iraq’s oil exports have reached 1.88 million barrels per day (bpd), 11 percent higher than the International Monetary Fund’s (IMF) expectations,” Aasem Jihad told IraqiNews.com. The ministry has largely cut down on oil derivatives’ imports throughout the current year to $1 billion U.S. dollars, compared to $4 billion U.S. dollars in the previous years, the spokesperson added. SS (P) 1