Oil Exports Down in December

By John Lee.

Reuters reports that Iraq’s oil exports have fallen so far in December, “capping what has been a disappointing year and highlighting challenges it faces in 2014 in achieving significant production growth“.

Exports from Iraq’s southern terminals averaged 2.01 million barrels per day (bpd) so far in December, according to shipping data tracked by Reuters, down slightly from November’s average of 2.07 million bpd.

Shipments of Kirkuk crude from the north remain continue to be constrained by bomb attacks on the pipeline to Turkey, and the ongoing dispute with the Kurdistan Regional Government (KRG). So far in December, Kirkuk shipments have averaged about 270,000 bpd, about 30,000 bpd less than in November. This would bring total exports to 2.28 million bpd, down from November’s 2.38 million bpd.

(Source: Reuters)

(Tanker image via Shutterstock)

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