Iraq’s oil exports dip so far in March after OPEC cut

17 Mar 2017   Iraq

Oil exports from Iraq’s southern terminals have edged lower so far in March, according to loading data and an industry source, although not as much as expected, potentially raising questions over the country’s compliance with OPEC production cuts. A March loading program had pointed to southern exports from OPEC’s second-largest producer falling to 3 million barrels per day (bpd), which a source familiar with the matter said was related to Iraqi efforts to comply with OPEC cuts. But exports from southern Iraq – the outlet for most of the country’s crude – in the first 14 days of March have averaged 3.25 million bpd, according to shipping data tracked by Reuters and by an industry source. Two Iraqi oil officials said on Wednesday the rate in the first half of March […]

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