Reuters reported that Iraqi exports of medium sour Kirkuk crude oil are set to rise to 484,000 barrels per day in November, the highest in over a year.

A preliminary loading program showed that exports were nearly 550,000 barrels per day in June 2011 as new crude production from the Kurdish region was added to the stream from the start of that year.

Kirkuk exports have been steadily recovering since September after hitting a multi year low in August. The KRG announced it would cut exports completely in April owing to a payment dispute between the Kurdish Regional Government and the central Baghdad government.

But while the KRG has restarted exports through the Kirkuk stream, tensions with Baghdad continue to be strained over upstream exploration licensing and lately by the KRG's start of independent oil exports.

Source - Reuters

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