Oil flows out of Kurdistan region have hit a new high reaching a rate of 650,000 barrels per day. The flows through the pipeline from Kurdistan to the Turkish coast have risen sharply in recent days.
Earlier this month pipeline operations, which have been disrupted at times due to fighting with ISIS, were said to be carrying around 450,000 barrels per day.
The upturn in daily volumes would be good news for Genel Energy who one of the main partners in the Taq Taq and Tawke oilfields.
It comes as the oil market continues to focus on the relatively high level of crude supply and as Saudi Arabia, the world’s largest oil exporter, set its own new record high.