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Iraqi Oil Exports Surge in June

Exports from Saudi Arabia and Kuwait also on the rise

Iraq have increased crude oil exports for June, along with other core OPEC members Saudi Arabia and Kuwait, while export reductions were recorded in Venezuela and Iran.

Iraq exported 4.02 million barrels per day (bpd) combined from Basra and the KRG, a rise of 170,000 bps from the previous month.

Elsewhere, Saudi Arabia exported 7.57 million bpd, a rise of 160,000 bpd and its highest export volume since July 2017.

Kuwait exports reached a total of 2.16 million bpd, a rise of 140,000 bpd from May.

It is expected export rises will continue next month as OPEC have approved an increase in oil production to steady the rising oil price.

Source: Kallanish Energy

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