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Iraq Basra Light Crude Exports to Rebound in April

Source: Reuters 3/11/2014, Location: Middle East

Iraqi exports of medium sour Basra Light crude oil will rebound in April to 2.58 million barrels per day (bpd), trade sources said.

The OPEC producer is reclaiming its rank as the world's fastest-growing oil exporter after it cleared many export bottlenecks at the southern Basra terminals.

Iraq's State Oil Marketing Organisation (SOMO) has scheduled to load a total 77.395 million barrels of Basra Light crude in April, versus 67.13 million barrels or 2.17 million bpd in March, one source said.

The grade is Iraq's largest crude export stream exported from the Basra Oil Terminal in the Middle East Gulf.

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