VOL. XLV

No 28

15-July-2002

IRAQ

Iraqi Oil Exports Stagnate As Sanctions Committee Fails To Reach Agreement On Pricing

Iraqi oil exports last week remained at their three-month low levels averaging less than 1mn b/d, compared to an export capacity for oil-for-food program deliveries of 2.2mn b/d. MEES soundings indicate that on the back of widespread, but so far unsubstantiated, rumors of the cancellation of SOMO premium demands, buyers of Kirkuk are looking for lower offers (below 10...