Iraq and Saudi Arabia see rise in crude exports in February 2014

barrel saudi- L.C.Nøttaasen wikimediaSaudi Arabia is the largest exporter of crude oil in the OPEC. (Image source: )Iraq and Saudi Arabia crude oil exports rose by 26 per cent and 3.5 per cent respectively in February 2014, according to the Joint Organisations Data Initiative (JODI)

Saudi Arabia had reportedly shipped 7.76mn bpd in February compared to 7.5mn in January 2014.

Meanwhile, Iraq increased exports to 2.8mn bpd, up 26 per cent from January 2014, highest since the year 2002.

Organization of Petroleum Exporting Countries (OPEC) had earlier announced that it will need to provide 30.6mn bpd of crude oil for export in the second half of this year.

In March 2014, Abdul Kareem Luaibi, Iraq’s oil minister, said, “Iraq also plans to be able to pump four million bpd by year-end.”

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