Flat Iraq Oil Exports in ‘05 A Shock, Critical – Libyan Oil Minister

Libyan Oil Minister Fathi bin Shatwan said Wednesday that news that Iraq’s oil exports would flat-line at a low 1.5 million barrels a day for the rest of the year were a shock and made the supply-demand balance far more critical.

Iraqi Oil Minister Ibrahim Bahr al-Uloum said early Wednesday that the country’s

oil exports in the fourth quarter of this year would be virtually unchanged over its current 1.5 million barrels a day.

Shatwan told Dow Jones Newswires: “That’s an extra 300,000 barrels a day less than we were expecting. It makes the situation even more critical.”
Rigzone