Iraq’s southern oil exports have risen above 3.0 million barrels per day (bpd) so far in July, according to loading data and an industry source, setting shipments from OPEC’s second-largest producer on course for a monthly record. The Iraqi boost is an indication of continued high output from the Organization of the Petroleum Exporting Countries, which is focusing on keeping market share rather than curbing supply to support prices. <OPEC/O> Exports from Iraq’s southern terminals averaged 3.06 million bpd in the first 23 days of this month, up from a record 3.02 million bpd in all of June. Shipments jumped in June after Iraq’s decision to split the crude stream into two grades, Basra Heavy and Basra Light, to resolve quality issues. This has allowed some companies working at Iraqi oilfields […]