Iraq oil exports drop in June

Preliminary data show June exports were down after two months of consecutive growth, despite increased crude supply.
Tugboats position a single point mooring (SPM) buoy in the Basra Gulf in January 2012 as Iraq expands its export capacity. (ALI ABU IRAQ/Iraq Oil Report)

Oil exports from Iraq averaged 2.423 million barrels per day (bpd) in June, a 157,000 bpd decline from May averages and the lowest since March, when the Iraq-Turkey Pipeline (ITP) was taken offline by insurgents.

For the past four months Iraq has only been able to export from the Basra Gulf, via the al-Basra and Khor al-Amaya oil terminals (ABOT and KAAOT) and the three single point mooring (SPM) buoys, as violence in the north kept the Turkey pipeline shut and cut off the tanker trade by road to Jordan.

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