Iraqi Oil Exports Grow On Strong Asian Demand

6 Jan 2018   Iraq

It is both the best and worst of times for the current Iraqi oil market. Iraqi oil minister Jabbar al-Luaibi said this week that Iraqi oil fields in the south of the country had recorded an ‘unprecedented’ surge in daily exports from Basrah during the last month. All the while, loadings in Ceyhan, Turkey, of crude from the Kirkuk pipeline in the north of the country continue to remain in check amid regional unrest. December monthly loadings from Basrah were strong, although not unprecedented, according to our vessel-tracking, vessel lineups and port agent data – reaching their highest monthly level in 2017. While loadings bound for the U.S. hovered around half a million barrels per day for a second month, the most interesting development came from those flows heading east of Suez. East Asia has traditionally been the largest market for southern Iraqi crude barrels, with China leading the […]

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