Iraq to cut Basra Oil Exports in November

By John Lee.

Reuters reports that Iraq plans to cut crude oil exports from its southern ports to 3.24 million bpd in November, down from the 3.28 million bpd planned for this month.

According to data from a preliminary loading programme of the State Oil Marketing Organization (SOMO), exports of Basra Light grade are expected to fall by 260,000 bpd to 2.34 million bpd, with exports of Basra Heavy planned to rise by 223,000 bpd to 900,000 bpd.

But Hayan Abdulghani Abdulzahra, the head of the South Oil Company (SOC), told Reuters:

“We have no plans to trim Basra exports in November. Oil shipments are steady and going on normally according to the oil ministry plan.”

(Source: Reuters)

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