November 27, 2018 / 1:49 PM / 4 months ago

Iraq southern oil exports around 3.3 million bpd in November: oil executives

BASRA, Iraq (Reuters) - Iraq’s crude oil exports from its southern ports on the Gulf stood at around 3.3 million barrels per day (bpd) so far in November, three oil executives said on Tuesday.

Exports were down on the previous month owing to bad weather, which slowed shipments and prevented crude loading on some days, the Iraqi oil executives said.

Such delays often occur at this time of year.

Iraq exported 3.47 million bpd of crude oil from its southern oilfields in October.

“Because of bad weather, tankers cannot reach ports and we have to be concerned about accidents,” one of the executives told Reuters.

“We are using our crude storages to pump higher shipments to compensate for the delayed period,” another one said.

Iraq is OPEC’s second-largest producer after Saudi Arabia and pumps around 4.6 million bpd.

The bulk of Iraq’s oil is exported via the southern terminals, which account for more than 95 percent of the OPEC producer’s state revenue.

Reporting by Aref Mohammed; Writing by Ahmed Rasheed; Editing by Louise Heavens and Emelia Sithole-Matarise

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