Iraq’s Crude Production at 9-Month Low

Oil

Iraq’s crude output fell for a third consecutive month in December to a 9-month low of 4.5M b/d due to OPEC cuts and supply outages in the south (due to protests at an oil field), according to Energy Intelligence estimates. Crude exports averaged 3.86M b/d in December, 52K b/d down m-o-m, with Basrah volumes 82K b/d lower at 3.29M b/d, the lowest since March.