Iraq cuts May Crude Export Volumes

By John Lee.

Reuters cites trade sources saying on Tuesday that crude oil exports from the southern Iraqi ports are set to fall to the lowest this year in May.

A preliminary loading programme shows total Basra crude exports of 3.085 million bpd in May, down from 3.28 million bpd this month, with Basra Heavy grade falling to a nine-month low of 645,000 bpd.

The State Oil Marketing Organisation (SOMO) did not allocate any heavy crude cargo in the first 10 days of May.

(Source: Reuters)

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