Iraq to Cut September Basrah Light Crude Exports to 20-Month Low
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Iraq will reduce daily exports of Basrah Light crude from the Persian Gulf in September to the lowest in at least 20 months, according to a loading program obtained by Bloomberg News.
The Middle Eastern producer, the largest in the Organization of Petroleum Exporting Countries after Saudi Arabia, will ship about 52.86 million barrels, or 1.76 million barrels a day, from the Basrah Oil Terminal, according to the plan. This is the lowest since at least February 2012 when Bloomberg started tracking the data and compares with 2.09 million a day this month.