December Crude Exports may Hit Record

By John Lee.

Reuters reports that Iraq’s oil exports may hit a record high in December.

Shipping data for the first 23 days of December suggest that exports from Iraq’s southern terminals have averaged at least 2.6 million barrels per day.

Additionally, the State Oil Marketing Organization (SOMO) has been exporting about 180,000 bpd of Kirkuk crude through the Turkish port of Ceyhan, following the deal reached between Baghdad and Erbil.

Taken together, this comes close to the 2.8 million bpd record high posted in February.

(Source: Reuters)