Iraq to Reduce Gulf Crude Exports by 3.8% in 2H-July

By John Lee.

Bloomberg reports that Iraq will reduce its daily exports of Basrah Light crude from the Persian Gulf by 3.8 percent in the second half of July, compared with shipments in the previous two weeks.

Twenty-four cargoes are scheduled to be shipped from the al-Basrah Oil Terminal (pictured), up from 18 in the first half of the month, according to a loading program obtained by the news agency.

Exports will total 33.6 million barrels, or 2.1 million bpd, compared with 2.19 million bpd two weeks earlier.

The program for the second half of July comprises 11 consignments of 2 million barrels each, seven 1 million-barrel shipments, and six lots ranging from 300,000 barrels to 1.7 million barrels.

(Source: Bloomberg)

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