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Iraqi crude exports hit a record 4.001mn b/d in November – topping 4mn b/d for the first time – with record volumes handled by state marketer Somo at Basra on the Gulf. But Kurdish-controlled exports from the Turkish Mediterranean port of Ceyhan dipped.
These bumper volumes will add to the political pressure on Iraq at Opec, given the country has been the source of most of Opec’s 1.52mn b/d production increase over the past year, and that other Opec members had previously said that Iraq would no longer be given a free pass to ramp up production at will once its output topped 4mn b/d.
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