Iraq Plans to Export 2.4 Million barrels From Basra

Oil ExportsIraqi Dinar 123 News:– It was reported that Iraq plans to export 2.4 million barrels per day of crude oil to Basra in September which has previously been 2.2 million barrels per day. This idea would help in increasing the crude exports. Although there has been a constant fight going on in the northern part of the country regarding the world oil prices. The Brent oil trader supplied oil at $103 at the lowest price recorded within the weight of a really big supply.

It was recorded that an increase in the Light crude oil form Basra would affect the prices of raw materials in the Middle East in competition with Latin America and African countries where it was sold at fewer prices.

Recently in the past the Basra Light crude oil was sold in Asia about two months back which added to the fear of supply disruptions after an outbreak of conflict which was equal to 71.895 million barrels of Basra Light crude oil which was recorded at 21 million barrels by the Chinese buyers.

With Iraq increasing its supply in the coming month after bringing down the supply from 2.8 million barrels per day which was during the month of July and then 2.225 in August, things are going to be better soon.

Share This Post

Related Articles

· Designed by RF