Iraq’s Planned Export Push Depends on Basra Crude

Iraq’s Planned Export Push Depends on Basra Crude

According to Reuters Iraq is aiming to export a record volume of Basra crude from its southern terminals in October during the current price war being fought between Saudi Arabia, Kuwait, and Iran.

Bloomberg, in this regard, was able to learn that Iraq plans to increase its Basrah crude exports by 26% next month.

This will come in the form of 81 cargoes of Basrah Light and Basrah Heavy grade crudes totaling 114 m barrels in October, an increase from the 90.5 m barrels planned for shipment in September.

These details were found in a loading program Bloomberg obtained, a planned schedule for shipments during a given month, although subject to change.

The loading program further shows that shows Iraq will ship 55 cargoes of Basrah Light crude totaling 86.2m barrels in October, or 2.78m daily, up from 60 m scheduled for this month.

Exports of Basrah Heavy will be 26 cargoes, totaling 27.8m barrels, or 897,000 a day, which is actually down from the 30.5m planned for this month.


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