Iraq aims for Record Oil Exports

By John Lee.

Iraq plans to export a record volume of crude oil from its Gulf ports in June, reports Reuters.

The State Oil Marketing Organization (SOMO) has reportedly allocated over 3.1 million bpd of Basra crude to buyers in a preliminary June loading programme, up from the usual monthly total of between 2.6 million and 2.7 million bpd.

This is to include 1.22 million bpd of the new Basra Heavy grade, approximately double the expected volume, as Iraq splits its production for the first time to resolve quality issues.

(Source: Reuters)

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