Baghdad Plans Cut in Crude Exports

Iraq plans to cut its oil exports by 15 percent in the second half as terrorism and lack of investment take their toll on infrastructure.

The new export figures imply an export volume of 1.45m barrels a day or 250,000 bpd below the contracts offered in the first half.

However, the forecast remains above the one-year low of 1.3m bpd after field maintenance problems last month.

The reduction is the second this year and follows six months of delayed cargoes and cancelled contracts as Iraq has struggled to keep its contractual agreements in the face of sabotaged oil pipelines in the north and deteriorating oil field productivity in the south.
Tehran Times