¬†Iraq’s bid to boost oil export capacity at its Gulf ports has suffered a setback due to delays in pumping station upgrades, an Iraqi oil source said. OPEC’s second-largest oil producer aims to raise operational export capacity in Basra to 3.45 million barrels per day (bpd) from 3.3 million bpd. The delay means it could miss out on exporting an additional 150,000 bpd of oil exports for the third quarter. While this is a relatively small level, the setback comes at a time of tight global oil supply, limited spare capacity from other OPEC+ producers, and little room to compensate for a major supply outage. read more The delay to its original plan stems from a lag in obtaining necessary approvals and in […]