Iraq's oil exports rise and the decline of crude oil prices

Baghdad balances News
Crude oil prices fell in futures contracts on Friday to continue the big losses suffered in the previous session , with investors re - evaluate the US data highlights the glut in supply as well as the height of Iraq 's crude exports. And it began to glut the world 's oil supply is declining , but the restoration of the balance in the market will take longer than many expected in light of the huge quantities stored in tanks and tankers.
By 0605 GMT , the International benchmark Brent crude fell 13 cents or 0.3 percent to 46.07 dollars a barrel after closing down 2.1 percent in the previous session. Brent and heading to incur a weekly loss of more than three percent increase.
The price of WTI US mediator 25 cents , or 0.6 percent , to $ 44.50 a barrel after the previous session , ended down 2.2 percent.
And contributed to the dollar 's decline in support for oil prices , which rose earlier in the session. The dollar fell against a basket of currencies on Friday , which makes the US currency - denominated commodities such as oil less expensive to holders of other currencies.
The US Energy Information Administration said earlier this week that while declining US production , but the crude stocks of high historical levels by reaching to 519.5 million barrels at this time of year.
And increased total crude oil stocks and petroleum products in the United States rose 2.62 million barrels to an unprecedented level of 2.08 billion barrels with a sudden rise in gasoline stocks totaled 911 thousand barrels during the summer season in which consumption increases.
In the Middle East , load data and source sector reported that Iraqi oil exports tend to rise in July, putting the supply of the supply of the second - largest producer in OPEC on the growth path again after falling for two months.
The average oil exports from southern Iraq in the first 21 days of July , 3.28 million barrels a day, according to data loading monitored by Reuters and the source of the sector.
This increases the average June , which stood at 3.18 million barrels Aumia.anthy 29 / D 24

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