The oil exports from Iraq’s Southern ports at the Gulf has reached around 3.565 million barrels per day (b/d) during February 2019, two oil executives told Reuters on February 25.
The exports from Iraqi Basra ports dropped to 3.556 million b/d in January 2019 from 3.63 million b/d in December 2018.
In addition, shipments from the country’s southern terminals are expected to remain 3.55 million b/d during February, according to OPEC agreement supply pact, two oil officials said.
Moreover, Iraq began rehabilitation work on the 1.5 million b/d Rumaila oilfield from February 17 to improve crude processing operations, three oil officials with knowledge of Rumaila operations said.
Iraq is producing below its maximum production capacity by nearly 5 million b/d in line with the agreement between OPEC and other producers to restrict the global oil supply to support prices.