Iraq to Cut Basra Crude Exports by 15% in First Half of June

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Iraq will reduce its exports of Basrah Light crude from the Persian Gulf by 15 percent in the first half of June compared to the second half of May, according to Bloomberg.
A loading program seen by the news agency shows that the country plans to ship 19 cargoes from the al-Basrah Oil Terminal (ABOT), seven less than in the second half of May:

  • 14 consignments of 2 million barrels each;
  • two 1 million-barrel lots;
  • two 600,000-barrel loads; and,
  • one 900,000-barrel load.

Exports will total 32.1 million barrels, equating to 2.14 million barrels a day, compared with 2.53 million bpd two weeks earlier.
(Source: Bloomberg)