Iraq has raised estimates for its oil income and export prices for May, the oil ministry said on June 24, as OPEC’s second-largest producer benefits from the uptick in global crude prices. Its May income was $2.136 billion, up from the previous estimate of $2.091 billion, the ministry said in a statement. It sold its oil for $21.45/b, versus $21.005/b previously stated, it said. Iraq expects to export 2.8 million b/d in June as it seeks to boost its commitment to the OPEC+ cuts after it failed to comply with its quota in May, the country’s oil minister Ihsan Ismaael told al-Sharqiya TV on June 14. Iraq hopes to rake in crude revenue of $2.5 […]