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Iraq decides to cut Basra crude exports in August next
7/14/2015
Traders said the oil industry, Monday, Iraq's second-largest oil producer in OPEC plans to export smaller quantities of Basra crude in August compared to July to reduce the waiting tankers carried crude from the southern terminals to download time. Traders said, quoting Reuters that "Iraq monitoring 2.52 million barrels per day of Basra crude for export in August, citing initial program load issued by the Iraqi State Oil Marketing Organization (SOMO)." They added that it was "only the allocation of two shipments of Basra Light crude in the first eight days of August." It was "Basra heavy crude supply cut to about 600 thousand barrels per day in August compared to 650 thousand barrels per day in July, according to the statement by the traders." And there is "always a queue of waiting tankers that crude download from the southern ports because of the obstacles related to infrastructure" .anthy 29 / d 25
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7/14/2015
Traders said the oil industry, Monday, Iraq's second-largest oil producer in OPEC plans to export smaller quantities of Basra crude in August compared to July to reduce the waiting tankers carried crude from the southern terminals to download time. Traders said, quoting Reuters that "Iraq monitoring 2.52 million barrels per day of Basra crude for export in August, citing initial program load issued by the Iraqi State Oil Marketing Organization (SOMO)." They added that it was "only the allocation of two shipments of Basra Light crude in the first eight days of August." It was "Basra heavy crude supply cut to about 600 thousand barrels per day in August compared to 650 thousand barrels per day in July, according to the statement by the traders." And there is "always a queue of waiting tankers that crude download from the southern ports because of the obstacles related to infrastructure" .anthy 29 / d 25
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