After American oil hits highest records, Iraqi oil exports return back to normalcy

One official at the Iraqi southern oil company yesterday announced the return back of Iraq's oil exports to flow at normal rates following the resumption of complete pumping of oil through the two main oil pipelines from the southern oil fields to the two ports of Basra and Khour al-Amya, after one of the two lines was assaulted on Monday.

The official who asked to be anonymous explained that the main line works at its full operational capacity as from 1 p.m. (GMT) yesterday.

At the trade level, the price of the American oil increased at the Asian dealings on Friday by 0.7% of the high record number of USD 45.75 per one barrel registered in New York on Thursday after the threats by al-Sader militias to carry out attacks against the oil infrastructure.

However, the state of unrest in Iraq extended to Basra area, the oil production center in the south following attacks by the American forces at the Shiite clergy Muqtada al-Sader and his supporters who vowed to launch attacks at the south oil pipelines.