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Iraq June oil exports fall as domestic usage rises

BASRA, July 1, 2016

Iraq's oil exports from the southern ports fell in June as domestic consumption rose due to demand for summer cooling, an official at the state-run South Oil Company said on Friday.

Loadings from Iraq's southern oil terminals, on the Gulf, ran at an average daily rate of 3.175 million barrels, compared with 3.2 million barrels per day (bpd) in May, he said.

Crude supply to local oil refineries increased as electricity generators burned more fuel to keep up with air conditioning demand, he said.

The southern region produces most of the Opec nation's crude oil.

The northern Kurdish regional government exports about 500,000 bpd through a pipeline to the Turkish port of Ceyhan, on the Mediterranean, but independently from the central government in Baghdad which oversees crude sales from the south. - Reuters




Tags: Oil | Exports | Iraq | Fall | rise | domestic | Usage |

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