Iraq is considering the possibility of building facilities to store crude oil in South Korea and Japan, indicating that Iraq intends to stop the loading of crude from the southern port of Basra for three days or four early next month because of maintenance work.
The company’s director Alaa al-Yasiri told reporters that Iraq is considering the possibility of building facilities to store crude oil in South Korea and Japan as part of a plan to increase sales to Asian customers.
He added that Iraq intends to stop the loading of crude from the southern port of Basra for three days or four in early April because of maintenance work, “noting that it is planned to increase sales of storage tanks during that period to compensate for the shortage.
Al-Yasiri predicted that Iraq’s crude production would not exceed 4.360 million barrels per day, in line with an agreement by the oil-exporting countries to reduce supply in order to raise prices, adding that March’s oil exports will not exceed 3.426 million barrels per day.

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