Follow-up scales News - Iraq seeks to export an unprecedented amounts of Basra crude from the southern harbors in October to add more supplies to the already bloated oil markets about supply.
Download a preliminary program and points out that "Iraq plans to export 3.68 million barrels per day of Basra crude, which means a huge leap of more than 600 thousand barrels per day from the previous record which stood at 3.064 million barrels a day last July."
A source from the sector said that "Iraq's decision to split its production into two types, namely Basra heavy crude and Basrah Light crude to resolve matters relating to quality, allowing him to increase production."
He stressed that "Iraq tends to allocate a larger amount than it can pump each month to avoid production downtime where he has energy storage is limited not allow him to oil surplus retained. The oil surplus in addition to the weak demand to a decline in global crude prices and the entry of OPEC members in battle with one of the in order to grab market shares in Asia."
He ruled out the source added that "Iraq exported more than 2.35 million barrels per day of Basra light crude in October and about 850 thousand barrels per day of heavy crude from Basra, and some are exported shipments in November instead of October."
Traders said that "Iraq cut the official rate for the sale of Basra Light crude 50 cents ore Basra heavy $ 1.1 per barrel in October compared to the price of the previous month, but these cuts are not likely to eliminate price differences in the spot contracts in light of oversupply. They expected to rise ore exports Basrah Light by 800 thousand barrels per day in October to about 2.8 million barrels per day ".anthy 29 / d 25