Petrologistics: OPEC-12 Nov Oil Exports +0.324 Million B/D

LONDON -(Dow Jones)- November oil exports from the Organization of Petroleum Exporting Countries will rise by 324,000 barrels a day, fueled by a sharp surge in Iraq’s oil production, according to data from Geneva-based Petrologistics.

Data from Petrologistics showed OPEC-12 exports would reach 31.573 million barrels a day in November, up from 31.249 million barrels a day the previous month, according to a crude oil trader.


Iraq’s oil production in November was seen at 2.605 million barrels a day, up from 2.146 million barrels a day in October.

Iraq has significantly boosted its oil exports by sustaining oil shipments through a pipeline from Iraq’s Kirkuk oil fields into the Turkish Mediterranean export terminal at Ceyhan, according to senior officials at Iraq’s State Oil Marketing Organization.

Meanwhile, in Saudi Arabia – OPEC’s largest producer – November exports were forecast to hit 8.85 million barrels a day, versus 8.649 barrels the previous month.

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