Sources: Iraq plans to export 3.6 million barrels per day next February

January 12, 2016 17:13

Tuesday, sources in the oil sector said that Iraq plans to export about 3.63 million barrels of oil per day from oil harbors in the south in February, based on an initial program load.

The skips the initial volume of exports next month, who increased eight percent for this Alchehr- record level, which was exported last November which is 3.365 million barrels per day.

And it intends to Iraqi oil marketing company SOMO] allocation of more crude that can supplied with enough storage space does not have to keep the surplus if the oil production for the volume of exports increased.

It is expected to lead Basra crude heavy increase in exports in February, where the volume of crude may produce heavier 959 thousand barrels per day, according to the sources, up from 750 thousand barrels per day in January of this.

The sources said the likely export about 2.67 million barrels per day of Basra light crude in February with little change for this month.

Iraq plans facing a severe crisis in the insurance and financial imports and which depends on oil by 90% to raise the ceiling on production of crude when it announced the Ministry of Oil's [where] their intention to reach production of 4.5 million barrels of oil a day middle of this year.

The pace of the sharp drop in oil prices in global markets on Monday since the record prices on Tuesday, its lowest level since April / April 2004, [12 years] where raw log global measurement of Brent crude on the morning of Tuesday at $ 30.88 a barrel at 06:15 GMT due to unrest in the Chinese stock markets.