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Iraq and Iran Boost Oil Exports in Sales Battle With Saudis

  • Saudi production cuts create opportunity for rivals: Mallinson
  • Iraqi shipments to U.S. exceed Saudi sales for second month
Bloomberg business news

Iraq, Iran Increasing Oil Exports

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Iraq and Iran boosted crude exports in September, taking advantage of a slower pace of shipments from rival Saudi Arabia to win buyers in key markets like China and the U.S.

Iraq shipped 3.98 million barrels of crude a day, the highest since December, while Iran’s exports rose to 2.28 million barrels a day, the most since February, according to ship-tracking data compiled by Bloomberg. Saudi Arabia’s exports were 6.68 million barrels a day, the second-lowest for this year, the data show.