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FINANCIAL NEWS
Iraq’s oil exports to drop in June
30 Jun 2016
(MENAFN) Iraq’s oil exports will drop in June for a second month, while supply growth from OPEC’s second-largest producer is slowing in this recent year.
Additionally, Iraq’s southern exports in the cited month have averaged 3.14mn barrels per day, which would be down 60,000 bpd from May.
However, Iraqi exports may face several issues, technical constraints, slower production growth and some competition in the market from Iran.
Moreover, Northern shipments of crude from fields in Kurdistan region have decreased to 480,000 bpd in June, from 510,000 bpd in May.
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