Iraq's Oil Exports Fall In June

By Matthew Gayle.

According to shipping data tracked by Reuters and industry sources, oil exports from Iraq have fallen by about 200,000 barrels per day (bpd) in June due to bad weather disrupting loadings.

Exports from Iraq’s southern shipping outlet, have averaged close to 2 million bpd in the first three weeks of June, which is down about 200,000 bpd from 2.198 million bpd the month of May.

This recent decline is not expected carry over into July, as it mostly reflects the impact of poor weather disrupting tanker loadings rather than production shortfalls or unplanned outages.

According to Reuters sources, shipments of Kirkuk have maintained around 280,000 bpd, similar to May, leaving Iraq’s exports on track to average around 2.28 million bpd by the end of the month. However, exports from Kirkuk remain restrained by a dispute between the central government and Kurdistan over payments. In addition, a recent bomb attack on the pipeline to Turkey interrupted flows.

(Source: Reuters)

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