Iraq’s oil exports have held above 3 million barrels per day (bpd) so far in May, according to loading data and an industry source, keeping shipments from OPEC’s second-largest producer close to a record high. Another strong month from Iraq adds to signs of high output from major members of the Organization of the Petroleum Exporting Countries focused on keeping market share, weighing on global oil prices. “There is little doubt that record crude exports out of Iraq are adding further length to an already extremely well-supplied market, thereby adding downside pressure,” said Eugene Lindell, oil analyst at JBC Energy in Vienna. Exports from Iraq’s southern terminals have averaged 2.55 million barrels per day (bpd) in the first 21 days of May, according to shipping data seen by Reuters and an industry source, down from 2.63 million bpd in April. But exports from Iraq’s north via Ceyhan in […]