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Iraq’s oil exports slip in December, 2014 target looks tough

Iraq’s oil exports slip in December, 2014 target looks tough

Iraq’s oil exports have fallen so far in December, capping what has been a disappointing year and highlighting challenges it faces in 2014 in achieving significant production growth, Reuters reported. The drop in exports this month shows Iraq has yet to overcome infrastructure constraints and security issues that slowed output growth in 2013, supporting global prices, and threaten to dampen plans for a sizeable expansion next year. Exports from Iraq’s southern terminals have averaged 2.01 million barrels per day (bpd) so far in December, according to shipping data tracked by Reuters, down slightly from November’s average…

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