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Record Basrah loadings scheduled for October

Oil

Iraq's Basrah crude loadings are set to jump by almost 800 kb/d month-on-month in October to a record 3.68 mb/d, according to a preliminary loading programme, reports Reuters. If realised this would be significantly above the previous record of 3.06 mb/d set in July. However, the country tends to allocate more volumes than it can supply each month to avoid disrupting production as it has limited storage to keep excess crude. Some of the October cargoes are already expected to be pushed into November. The schedule includes 2.8 mb/d of Basrah Light.