Iraqi exports fall slightly in April

Adverse weather conditions in the southern ports have dampened export levels

Iraq is OPEC's 3rd biggest supplier.
Iraq is OPEC's 3rd biggest supplier.

Iraq’s crude oil exports have fallen slightly to 2.92mn bpd, according to loading data.

Despite the fall, production levels remain healthy and are just shy of the record highs set in March.

Exports from Iraq's southern terminals have averaged 2.50 million barrels per day (bpd) in the first 19 days of April, according to shipping data seen by Reuters and an industry source, down from 2.71 million bpd in March.

In the north of the country, exports have averaged 420,000 bpd so far in the month, according to loading data and an industry source, a significant jump from March's 270,000 bpd.

"Iraq's exports are marginally down in April," an industry source told Reuters, "but it is still very impressive."

The figure of 2.92mn bpd is slightly lower than the target of 3.1mn bpd set by Iraq’s Oil Minister, Adel Abdel Mehdi.

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