Iraq oil exports dip after jihadist offensive

Iraq exported 2.42 million barrels of oil per day in June, the month of a jihadist offensive, the oil ministry said, falling far short of a budgeted projection of 3.4 million bpd.

Ministry spokesman Assem Jihad said June exports generated revenue of $7.47 billion, or $600 million less than in May, despite higher oil prices.

Violence that erupted in early June when jihadist-led militants overran Iraq's north and west has prevented Baghdad from exporting oil via a pipeline to Turkey and by road to Jordan.