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FINANCIAL NEWS
Iraqi fuel oil exports jump despite OPEC supply cut
04 May 2017
(MENAFN) Iraqi fuel oil exports jumped since Jan despite a cut in the nation’s crude production in line with OPEC supply cuts in order to enhance output of refined products.
The country on average exports between 80.000 and 160.000 tons of fuel oil per month last year, while volumes sold to Asia have jumped this year.
Additionally, the soaring exports of high-quality straight-run fuel oil are a way to help profits amid the OPEC cuts in which Iraq agreed to collaborate.
Furthermore, the country has processed more crude amid its refineries, turning it into fuel oil for exports, as proclaimed five industry sources.
MENAFN0405201700450000ID1095451175
MENAFN0405201700450000ID1095451175
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