DUBAI: Iraq expects oil sales of about 1.5 million barrels per day (bpd) this month, the same as December, as bad weather in the Gulf prevents the producer from ramping up shipments, a senior Iraqi oil official said yesterday.
But the official from the State Oil Marketing Organisation said that Baghdad should be able to reach its 1.7 million bpd export target in February. “That is a very high probability,” the official said of higher volumes for next month. “But the Gulf is vulnerable during December and January because of bad weather – so exports will probably stay around 1.5m bpd this month.”
n Nicosia: The Opec is not expected to make a decision about production quotas this week, deferring the issue to the extraordinary meeting in Algiers on February 10, the Middle East Economic Survey reported yesterday.
The weekly said the option to a trigger decision based on $22-28 a barrel price band mechanism is intended for use in normal market circumstances.
– Agencies
Last update on: 6-1-2004