Reuters reported that oil exports from Iraq's southern Basra terminal dropped to 1.36 million barrels per day from 1.94 million barrel per day the previous day due to bad weather.

A shipping source said that high winds around the Basra oil port made it difficult for ships to reach berth. Exports from Basra, Iraq's main oil exporting hub can fluctuate widely due to weather or technical problems.

The State Oil Marketing Organization said that Iraq which has some of the world's largest crude reserves, exported an average 2.189 million barrel per day in August including an average of 1.728 million barrel per day from Basra. Iraq's current oil production is 2.75 million barrels per day the first time it has reached that level in 20 years as investment increases and violence drops.

(Sourced from Reuters)