Iraq's October oil exports near pre-war levels at 3.4m barrels a day
Iraq's oil minister said exports have averaged more than 3.4 million barrels per day in October, up about 750,000 from September and close to levels before the Iran war choked Hormuz traffic.
Why it matters
Recovering Iraqi supply is one factor helping to cap oil prices.
Background
Iraq is one of OPEC's largest producers and ships most crude from its southern Gulf ports. Hormuz disruptions sharply cut its exports.
The story so far
- Iraq's October oil exports near pre-war levels at 3.4m barrels a day
- Brent crude tops $113, highest level since May
- Brent crude briefly passes $117 on fears of renewed Iran strikes
- US says it helped Gulf states ship 1.5 billion barrels through Hormuz
- Oil stays above $100; diesel tight
- Oil swings on Iran news; Brent above $104
- Oil falls for the week on hopes of US-Iran deal
- Iraq says it can export oil through Hormuz
- UAE oil exports back to pre-war levels via Fujairah
Sources
- OilPrice ↗Oct 19, 11:30 AM ET
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