Basra oil exports partially recover to 870,000 barrels per day in June
Official data from the Iraqi State Oil Marketing Company (SOMO) showed that the rate of crude oil exports transported by sea through Basra ports rose to about 870,000 barrels per day during the past month of June, recording a threefold increase compared to the month of May, following the partial resumption of flows through the Strait of Hormuz before security tensions caused it to be closed again. Financialnews subscription
Despite this relative recovery, official data indicates that oil exports are still far below pre-regional crisis levels, with Basra exporting about 3.6 million barrels per day last February.
In a related context, the average exports of Iraqi crude oil via the Turkish Ceyhan pipeline reached about 230,000 barrels per day during June, which represents about half of the pipeline’s usual historical rates. Crude oil produced from federal fields constituted about 176,000 barrels per day of the total quantities exported via the northern pipeline.
The Platts OPEC survey issued by S&P Global Energy showed that Iraq’s total crude oil production reached 4.22 million barrels per day last February, but the loss of southern export outlets and regional unrest led to a decline in the country’s total production to below 2 million barrels per day during the period from March to June.
Shafaq.com