Iraq Oil Exports Running At 1.294 Million B/D In May -US State Dept

Iraq’s oil exports are averaging 1.294 million barrels in the first three weeks of May, down about 7% from levels that prevailed in March and April, the U.S. State Department said in a report dated May 25 but released this week.

The data echo comments from Iraqi officials, who have said in recent weeks that production problems have slowed oil shipments. The health of Iraq’s oil industry is important to world oil markets, as there is little spare capacity elsewhere to cover extended declines.