Iraq says to cut January's southern oil exports to 3.1-3.15 mln bpd - Reuters News

13-Jan-2017
07:50:45 AM

Adds background, figures

ABU DHABI, Jan 13 (Reuters) - Iraq, OPEC's second biggest producer, plans to cut its southern oil exports to 3.1-3.150 million barrels per day (bpd) in January from 3.51 million bpd in December, its OPEC governor said on Friday.

Iraq has already lowered its oil exports which stood at 3.077 million bpd on Friday, Falah al-Amri told reporters.

Members of the Organization of the Petroleum Exporting Countries as well as non-member oil producers this month have started implementing an agreement to cut production.

On Thursday, Iraqi oil minister Jabar Ali al-Luaibi said Iraq was abiding by that agreement.

Iraq has cut exports by 170,000 bpd and will cut by a further 40,000 bpd this week, Luaibi said. (Full Story)

Amri told Reuters on Friday that Iraq's February export allocations would fall to 102 million barrels from 106 million in January.

Iraq's allocations are normally higher than actual exports due to a lack of storage and bad weather.





(Reporting by Rania El Gamal; writing by Reem Shamseddine; editing by Jason Neely)

(( Reem.Shamseddine@thomsonreuters.com ; +966503335202; Reuters Messaging:reem.shamseddine.thomsonreuters.com@reut ers.net ))


Keywords: IRAQ-OIL/EXPORTS (UPDATE 1)


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