Iraq Exports Slump In March

Iraqi crude exports plummeted 244,000 b/d in March to their lowest levels since October due to Opec+ compliance cuts (see p9) as well as weather-related issues. Southern exports slumped to 3.255mn b/d – the lowest since September 2017 – after reported flooding hampered output from the 240,000 b/d Majnoon field and bad weather once again complicated loadings at Basra ( MEES, 2 November 2018 ).

On the positive side, federal Iraqi exports of Kirkuk crude via the KRG-controlled 1mn b/d export line to Turkey rebounded back to 99,000 b/d after having slumped to 63,000 b/d the month prior. Trucked volumes from the 30,000 b/d Qayara field in northern Iraq contributed another 23,000 b/d to the export figure. (CONTINUED - 159 WORDS)