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Exports from Basra crude will rise to 9.2 million b / d

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Rocky


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Exports from Basra crude will rise to 9.2 million b / d






11/14/2015 0:00

American Oil falls due to inventory rise
Singapore (Reuters) -

At a time when commercial sources in the oil sector, said on Friday that Iraq plans to export 2.9 million barrels per day of Basra crude from the southern oil harbors in December, and continued futures for US crude losses, reaching their lowest levels in more than two months yesterday influenced by the rise in oil stocks.
was based on sources in their statements to the initial program to load oil from the second largest producer in OPEC.
The increase December shipments a little bit about those planned to be exported this month, amounting to 2.819 million barrels per day, supported by the increase of Iraqi crude exports heavy. Iraq and targeted export record amounts of 3.68 million barrels per day in October, but has not issued only 2.7 million barrels per day on average because of the bad weather, which hampered the tanker loading. Iraq plans to export about 2.13 million barrels per day of Basra light crude in December, unchanged from the previous month. The Basra crude heavy exports would rise to about 768 thousand barrels per day from 720 thousand in November.
The Department Iraq ore into two types starting from June to resolve problems related to quality and increase exports.
So continued futures crude Aalomirka losses for the third straight session, reaching their lowest levels in more than two months on Friday, influenced by the rise in oil stocks, which fell prices ten percent since November beginning.
By 0643 GMT, it amounted to the price of crude Aalomirka in futures to $ 41.57 a barrel after the lowest price for his record on Friday at $ 41.38, the lowest level since August 27. And closed crude on Thursday, down about 3 percent at $ 41.54 a barrel on rising inventories 4.2 million barrels.
The price of the global Brent crude to $ 44.14 a barrel, up eight cents from the price in the previous session, but remains close to the low levels recorded in August.
Experiencing markets Oil oversupplied estimated at between 0.7 million and 2.5 million barrels per day above demand, which led to a decline in prices by about two-thirds since June 2014
and came oversupply due to higher most of the major producers, including the Organization of Petroleum Exporting Countries (OPEC) and Russia and North America. OPEC said it expected continued oversupply in 2016 but at a lower rate.
The organization said it pumped 31.38 million barrels a day last month, down 256 thousand barrels per day from September, the first decline in production since March.

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