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Iraq Falls Further Behind its Production Targets

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Crude,Oil,Tanker,Ship,Transport
  • A rise in Basrah crude exports in August was offset by declines in the north, especially of Kirkuk.

  • Iraq’s oil ministry claims it reached its August target, with crude stocks surging and refinery runs at historic highs.

  • Robust flows to Europe of Basrah crude displaced in Asia, but Kurdish barrels struggle to find buyers after Baghdad issued legal threats.

Iraq managed to raise crude oil production in August to 4.48 million barrels per day, according to preliminary Energy Intelligence estimates, up by around 70,000 b/d versus July.

Topics:
Oil Supply, Oil Demand, Opec-Plus Supply , Conventional Oil and Gas
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