Iraq exports more oil from southern terminals far from conflict

Tue, Sep 23, 2014

by Alex Lawler

Iraq's oil exports from its southern terminals on the Gulf, far from the fighting in its north, have increased so far this month as bad weather and logistical delays subsided, approaching a record high reached in May.

Three months after an advance by Islamic State into northern Iraq sent oil prices soaring to $115 a barrel, the fighting has not reduced Iraq's exports from the south, the main outlet for its crude to world markets.

Exports from Iraq's southern terminals have averaged 2.58 million barrels per day (bpd), according to shipping data for the first 23 days of September tracked by Reuters. Two industry sources who monitor the exports had similar estimates.

Oil industry sources said there has been less impact on exports in September from bad weather and logistical delays, which had held up some shipments in August.

To read the full piece from Reuters, click here.