Iraq’s oil exports from its southern terminals are near record rates in June, despite attacks by insurgents and their capture of swathes of territory in northwest and central Iraq, Reuters has reported, citing loading data and industry sources. Exports from Basra and Iraq’s other southern terminals have averaged 2.53 million barrels per day (bpd), according to shipping data for the first 21 days of June. “I do not think this turmoil will have any impact on Basra,” a trader with a company that buys Iraqi crude said. “It is too far south.”
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