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Commodities Briefing - Categorized | Market Moves, Oil more

Iraq oil output to suffer only ‘very small reduction’

Posted on 14 August 2013

Iraq’s average crude exports will suffer only a very small reduction due to maintenance work starting in September, a senior Iraqi oil official said Tuesday, contradicting estimates from the International Energy Agency that the work would reduce oil exports by around 500,000 barrels a day for four to six months.
“We are planning maintenance to the southern export terminals, but it would not affect our export capacity,” and the country will still hit its average export targets, Faisal Khalaf Wadi, deputy head of Iraq’s largest state oil firm, the South Oil Co., told the Wall Street Journal………………………………………..Full Article: Source


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