ANL 34.32 Decreased By ▼ -0.20 (-0.58%)
ASC 14.85 Decreased By ▼ -0.31 (-2.04%)
ASL 24.50 Decreased By ▼ -0.33 (-1.33%)
AVN 90.24 Decreased By ▼ -4.76 (-5.01%)
BOP 7.79 Decreased By ▼ -0.08 (-1.02%)
BYCO 10.05 Decreased By ▼ -0.26 (-2.52%)
DGKC 124.20 Decreased By ▼ -2.40 (-1.9%)
EPCL 56.30 Decreased By ▼ -0.86 (-1.5%)
FCCL 24.31 Decreased By ▼ -0.19 (-0.78%)
FFBL 27.60 Decreased By ▼ -0.36 (-1.29%)
FFL 16.05 Increased By ▲ 0.01 (0.06%)
HASCOL 9.74 Decreased By ▼ -0.28 (-2.79%)
HUBC 80.00 No Change ▼ 0.00 (0%)
HUMNL 6.44 Decreased By ▼ -0.01 (-0.16%)
JSCL 20.50 Increased By ▲ 0.09 (0.44%)
KAPCO 40.21 Decreased By ▼ -0.73 (-1.78%)
KEL 3.85 Decreased By ▼ -0.02 (-0.52%)
LOTCHEM 16.25 Decreased By ▼ -0.99 (-5.74%)
MLCF 46.60 Decreased By ▼ -0.31 (-0.66%)
PAEL 35.10 Decreased By ▼ -1.07 (-2.96%)
PIBTL 10.33 Decreased By ▼ -0.16 (-1.53%)
POWER 9.25 Decreased By ▼ -0.10 (-1.07%)
PPL 85.50 Decreased By ▼ -0.24 (-0.28%)
PRL 25.01 Decreased By ▼ -0.70 (-2.72%)
PTC 9.55 Increased By ▲ 0.10 (1.06%)
SILK 1.24 Increased By ▲ 0.07 (5.98%)
SNGP 38.82 Decreased By ▼ -0.54 (-1.37%)
TRG 167.40 Increased By ▲ 7.79 (4.88%)
UNITY 30.65 Decreased By ▼ -0.10 (-0.33%)
WTL 1.53 Increased By ▲ 0.10 (6.99%)
BR100 4,820 Decreased By ▼ -31.91 (-0.66%)
BR30 25,669 Decreased By ▼ -2.82 (-0.01%)
KSE100 44,978 Decreased By ▼ -208.43 (-0.46%)
KSE30 18,443 Decreased By ▼ -42.02 (-0.23%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,619
11824hr
Pakistan Cases
729,920
431824hr
Sindh
269,474
Punjab
252,974
Balochistan
20,397
Islamabad
66,983
KPK
100,275

BAGHDAD: Iraq's oil exports fell month-on-month to an average of 3.377 million barrels per day (bpd) in March, the Oil Ministry said on Monday, as poor weather interrupted loadings and producer group OPEC continued to cut supplies.

Iraq, the second-largest producer in the Organization of the Petroleum Exporting Countries, exported 3.62 million bpd of crude oil in February.

Exports from Iraq's southern Basra ports stood at 3.254 million bpd, the ministry said, down from 3.54 million bpd in February.

Bad weather in the Gulf halted the loading of crude on some days, Iraqi oil officials told Reuters.

"Rough weather forced us to stop loading operations more than once at the export terminals. We had to cut output from some oilfields during the export halt," an official with knowledge of export operations said.

Another oil official said bad weather had forced a cut in production at some oilfields developed by Basra Oil Co, including Majnoon, where output declined in mid-March by 140,000 bpd from 240,000 bpd earlier in the month.

"Lower output at Majnoon in the last two weeks of March was caused by bad weather. When exports stop, we have to divert output to storage. Once storage is full, we have to reduce output," said the official, an output supervisor in the south.

On March 26, Iraq halted crude oil loading at its southern terminals due to bad weather, two sources at Basra Oil said.

Shipments from Iraq's northern Kirkuk oilfields to the Turkish port of Ceyhan rose to 99,000 bpd, from 63,000 bpd in February, the statement said.

The average sale price in March was $63.804 per barrel, generating around $6.68 billion in revenue, the ministry said.

Iraq is producing below its maximum capacity of nearly 5 million bpd in line with a production-cutting agreement between OPEC and allies such as Russia aimed at supporting prices.

Copyright Reuters, 2019