Iraq Maintains Oil Output
Iraq's crude production and exports continue at full throttle despite the recent violent demonstrations in the country, but analysts said the situation bears close watching as oil fields and ports could be vulnerable to escalating protests.
Crude exports from Iraq's southern terminal on the Persian Gulf stand at 3.6 million bpd so far this month, according to a port status report Tuesday seen by S&P Global Platts.
That is up from 3.45 million bpd in October, which saw two days of bad weather.
Government sources and officials with oil companies operating in Iraq said production has rebounded from a brief disruption earlier this month when protesters blocked roads that forced the shut-in of the 30,000 bpd Qayyarah field.
The country's oil ministry earlier this week reported crude production last month averaged 4.58 million bpd.
"No harm at all on production," said one source, who asked not to be named because he was not authorized to comment publicly. "All precautions taken."
Iraq, OPEC's second-largest producer, has seen increasing clashes between citizens and the government since October, particularly in the oil-rich southern province of Basrah. Demonstrators have demanded more economic development and jobs.
source: Financial Tribune
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