Bad weather in the north of the Arabian Gulf continues to dog oil exports from Iraq, according to a Reuters report.
Loading rates on Monday were cut by 240,000 bpd to 1.41 million from 1.65 million last week, as a dust strom continues to whip around the port of Fao in Basra.
High winds and poor visibility have prevented some tankers from leaving the floating export terminals to which they are moored.
Increased domestic demand reduced Iraq’s oil exports by 2.2% from April to May, from 2.508 million barrels a day to 2.452 million barrels. The increase is expected as rising temperatures trigger increased demand for oil for power generation. High oil prices allowed Iraq to realized $8 billion in oil export revenue last month.
Kuwait’s exports resumed Monday after its own export terminal was caught up in the storm.
