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Iraq's Oil Exports Set to Fall in March

Oil

Iraq’s oil exports are scheduled to fall to a 7-month low in March amid ongoing field maintenance and a seasonal decline in shipments (weather typically disrupts loadings), reports Bloomberg. Basrah loadings are expected to fall to 3.01M b/d (the lowest since August), down from 3.64M b/d in February (the highest since October 2015). Iraq’s export capacity rose by more than 1M b/d this month to 2.5M b/d with the addition of a new pipeline at Basrah.