IRAQ

 

Northern Exports Continue Grim Trajectory

Iraqi southern exports continue at recent impressive 2mn b/d plus levels and oil prices have recovered somewhat from June lows, but Baghdad is increasingly and dangerously reliant on its Basra export outlet. Northern exports for the last two quarters have averaged below 400,000 b/d. And since the cessation of exports from the Kurdistan Regional Government (KRG) on 1 April, northern flows have fallen still...