Iraqi oil exports down to 792,000 barrels per day

30 October 2012, Sweetcrude, BAGHDAD – IRAQI’s oil exports has dropped to 792,000 barrels per day from 2.35 million bpd, following bad weather that has hit its southern oil operations.

An oil port official quoted by Reuters said of the development: “The weather may improve tomorrow or the day after and allow exports to return to normal.”

Oil exports from the Organisation of Petroleum Exporting Countries member nation were halted a week ago when rough weather stopped tankers from loading at Basra’s ports.

Exports from the south, the country’s main crude shipment point, have risen steadily, bringing Iraq closer to its highest export level in decades. Crude shipments averaged 2.3 million bpd during the first half of October.

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  • It would appear the bad weather is a global phenomenon this year, let’s hope it is not a harbinger of worst things in the horizon.