Federal Iraq exported a record 3.543mn b/d in July – all from its southern Basra infrastructure. Even with the average export price dipping slightly to $69.16/B in May, Baghdad nonetheless pulled in $7.597bn. This was the highest monthly revenue figure since July 2014 when the selling price was $97.40/B.

Racked by protests over inadequate public services (see p7) and facing an $88bn post-Islamic State reconstruction bill (MEES, 16 February), Iraq’s embattled government needs all...