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Oil Exports Resume from Kirkuk Province, Rise from South Iraq

Oil

Oil exports resumed from Iraq’s Kurdish region after halting for about 15 hours earlier on Monday, highlighting the uncertainty over pipeline shipments from OPEC’s second biggest producer, Reuters reports. Shipments by pipeline averaged 264K b/d before the stoppage, less than half their normal daily level of 600K b/d. In response to the shortfall in exports from Northern Iraq, the central government decided to increase exports from its southern oilfields where about 70% of total Iraqi oil is produced, to 3.45M b/d, up 6.8% or 220K b/d from previous normal levels.