Iraqi exports dip on southern capacity squeeze

Iraqi crude sales decreased slightly in November as rising exports from the Kurdistan region were offset by reductions in exports via the Basra Gulf due to lingering effects of a deadly oil depot explosion.

Nationwide exports averaged 3.553 million bpd, according to preliminary Oil Ministry data, down from 3.578 million bpd in September.* Exports from the Basra Gulf fell to 3.290 million bpd, down from 3.381 million bpd in October, while exports via the northern pipeline system to Turkey's Ceyhan port averaged 253,000 bpd, up from 188,000 bpd the prior month.