Iraq to Raise Gulf Crude Exports by 14% in 1H-July

Bloomberg reports that Iraq will increase its daily exports of Basrah Light crude from the Persian Gulf by 14 percent in the first half of July, compared with shipments in the previous two weeks.

Eighteen cargoes are scheduled to be shipped from the al-Basrah Oil Terminal (pictured), unchanged from the second half of this month, according to a loading program obtained by the news agency.

Exports will total 32.8 million barrels, or 2.19 million bpd, compared with 1.91 million bpd two weeks earlier.

The program for the first half of July comprises 13 consignments of 2 million barrels each, two 1.9 million-barrel lots and three 1 million-barrel shipments.

(Source: Bloomberg)

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