Expected Increase in Oil Exports 100K Barrels per day in June: Abdul Mahdi

The Iraqi Oil Minister Adel Abdul Mahdi issued a statement that Iraqi crude oil exports will gradually improve and it expected that it would reach at 100 thousand barrels oil per day from the month of June with the help of production a large quantity of crude oil from Basra oil fields. Abdul Mahdi issued a press statement that Iraq is producing a large amount of crude oil and working very hard for improvement in this sector. It is expected that Iraqi crude oil export level would increase in the month of June and the crude oil exports would reach at 100 thousand barrels per day. The Iraqi crude oil exports made a remarkable record In the month of May which was more than 3 million barrels per day.

Last year Iraq was thinking to divide its supplies and exports because a number of various quality specification problems and complaints were recorded after blending in the new fields productions of light crude oil from Basra oil fields, which will be started in the month of June 2015. He further added that OPEC always provide a shield to its members with great interest and for the interest in stabilizing the oil industry. He also pointed out that we don’t need daily fluctuation in the oil prices because it would be harmful for our budget and for the running projects. Stabilized prices are in the favor of producers and customers.

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