Iraq increases oil sales to China, America and Asia

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Information / Baghdad ..
According to informed sources, on Friday, that Iraq sells more crude oil to the largest customers Aonepk China expanded its position in the global market ahead of the start of the implementation of agreed production cuts with OPEC and other producers.
In light of new deals with Indian and US refiners to increase the size of the contract with the commercial arm of the largest Asian refiner Sinopec mean that it will be reduced to Baghdad before heading to other customers in order to fulfill its obligation to reduce production of 210 thousand barrels per day from 2017.
Quoted "Reuters" news from three sources familiar that he was signing a contract Aonepk such as the Organization of Petroleum Exporting Countries agreement (OPEC), which occupies Iraq seats out with the other producers led by Russia to cut up to 1.8 million barrels a day in an effort to reduce the glut of global supply and raise prices .
They said on condition of anonymity because they were not authorized to speak to the media that the Iraqi Oil Marketing Company (SOMO) of Basra crude futures sales increased to Aonepk three percent to between 40 and 60 million barrels a quarter per year - 435 to 652 thousand barrels per day - in 2017.
He said one trader who specializes in crude is sent to China, but is not allowed to make public statements, "if Iraq increased its sales to China, while others were forced to reduce their size or keep a stable Iraq will gain in the end a new stake in the oil market is arguably the most important."
And Iraq's second-largest producer in OPEC after Saudi Arabia, currently ranks third among the largest suppliers of crude to China - after Russia and Saudi Arabia - where he scored a jump of 15 percent year on year to about 723 thousand barrels per day between January and October.
One source said that is expected within the framework of the extended Chinese deal that Aonepk carrying two million barrels of Basrah heavy in a single quarter.
One trader said buying Iraqi crude Last but not authorized to speak to the media, "Basra Khama became recognized, stable quality and supply to be reliable."
Aoanbug said it does not comment on specific deals.
According to a source familiar with the preliminary agenda for downloads in January, the oil Sumo also westward Basrah heavy on fixed-term to Exxon Mobil, Chevron and India's Essar Oil refiner new contracts.
And contribute to a jump in the contracts expected to Basra exports to 3.53 million barrels per day in January 2017, which would be the largest size since June, according to loading schedules showed.
In India's crude imports from Iraq have increased 24 percent in the first ten months of this year to 784 thousand barrels per day to become Iraq's second-largest supplier of crude after Saudi Arabia.
Increased Iraqi crude exports to the United States more than doubled in the first nine months of 2016 compared with the same period a year ago to reach about 350 thousand barrels per day, with the decline in Venezuelan supplies as shown by data from the Energy Information Administration. Finished / 25 p.

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