Iraqi fuel oil ex­ports soar since Jan­uary

New Straits Times - - Business -

DUBAI: Iraqi fuel oil ex­ports have soared since Jan­uary de­spite a re­duc­tion in the coun­try’s crude pro­duc­tion in line with Or­gan­i­sa­tion of the Pe­tro­leum Ex­port­ing Coun­tries sup­ply cuts, in­dus­try sources said, in what could be a way to boost out­put of re­fined prod­ucts and main­tain oil rev­enues. Iraq on av­er­age ex­ported be­tween 80,000 and 160,000 tonnes of fuel oil per month last year, Reuters data showed. But vol­umes sold to Asia have risen this year, with Iraq’s global ex­ports of fuel oil reach­ing more than 500,000 tonnes in March alone, Reuters data showed.

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