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Iraq's oil exports drop by more than 2% in May, and an expert attributes it to the cause
Shafaq News/ Iraq's oil exports decreased to 3.300 million barrels per day in May, by more than 2%, compared to 3.379 million barrels per day in April.
According to the data of the Ministry of Oil seen by Shafak News Agency, Iraqi oil exports, excluding flows from the Kurdistan Region, decreased by 2.34% on a monthly basis in May, amid the increase in the share of OPEC +.
Exports from the southern oil ports amounted to 3.190 million barrels per day in May, down 2.39% from the previous month.
Kirkuk crude exports through the Turkish port of Ceyhan amounted to 97 thousand barrels per day, a decrease of 3% from the month of April, when exports through the Turkish port of Ceyhan amounted to 100 thousand barrels per day.
Iraq's share of OPEC+ rose to 4.461 million b/d in March from 4.414 million b/d in April as the group continued to ease oil production restrictions.
The Ministry of Oil confirmed Iraq's commitment to the decision of the Organization of Petroleum Exporting Countries, OPEC and its allies, regarding increasing oil production, which is distributed to all countries and according to the production of each country.
In an interview with Shafaq News Agency, oil expert Hamza Al-Jawahiri attributed "the reason behind the decline in Iraq's oil exports to the suspension of loading on some days for the month of May as a result of the dust storms that Iraq witnessed."
He explained that "the ports stopped loading as a result of these storms, which caused a decrease in Iraq's oil exports, in addition to the maintenance of some fields in the West Qurna 2 field," stressing that "Iraq has the ability to export larger quantities, but Iraq's commitment to the OPEC agreement in production limits increase in oil exports.
Al-Jawahiri stressed that "the coming months, Iraq will witness an increase in its oil exports after the increase in Iraq's share for the months of July and August, and the development of export infrastructure, which will allow Iraq to export large quantities of crude oil in the future."
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According to the data of the Ministry of Oil seen by Shafak News Agency, Iraqi oil exports, excluding flows from the Kurdistan Region, decreased by 2.34% on a monthly basis in May, amid the increase in the share of OPEC +.
Exports from the southern oil ports amounted to 3.190 million barrels per day in May, down 2.39% from the previous month.
Kirkuk crude exports through the Turkish port of Ceyhan amounted to 97 thousand barrels per day, a decrease of 3% from the month of April, when exports through the Turkish port of Ceyhan amounted to 100 thousand barrels per day.
Iraq's share of OPEC+ rose to 4.461 million b/d in March from 4.414 million b/d in April as the group continued to ease oil production restrictions.
The Ministry of Oil confirmed Iraq's commitment to the decision of the Organization of Petroleum Exporting Countries, OPEC and its allies, regarding increasing oil production, which is distributed to all countries and according to the production of each country.
In an interview with Shafaq News Agency, oil expert Hamza Al-Jawahiri attributed "the reason behind the decline in Iraq's oil exports to the suspension of loading on some days for the month of May as a result of the dust storms that Iraq witnessed."
He explained that "the ports stopped loading as a result of these storms, which caused a decrease in Iraq's oil exports, in addition to the maintenance of some fields in the West Qurna 2 field," stressing that "Iraq has the ability to export larger quantities, but Iraq's commitment to the OPEC agreement in production limits increase in oil exports.
Al-Jawahiri stressed that "the coming months, Iraq will witness an increase in its oil exports after the increase in Iraq's share for the months of July and August, and the development of export infrastructure, which will allow Iraq to export large quantities of crude oil in the future."
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