Iraq to increase soil exports to two million barrels daily within days

The Iraqi South Oil company announced on Thursday it is planning to increase its oil exports from the southern ports to two million barrels daily within the five coming days.

The media spokesman for the company, Samir Jasem, said that the exportation pace via Basra and Khour al-Amya ports on the Gulf is currently witnessing stability to between 1.6 to 1.7 million barrels daily.

Jasem explained that the company intends within the five coming days to increase Iraqi crude oil exports via the two ports to two million barrels daily.

A report by the south oil company disclosed that it lost during 20 days of August 15 million barrels of crude oil at a cost of $ 600 million because one of the oil export pipeline and oil installations were exposed to 32 explosions by unidentified gunmen.

Oil prices jumped in New York on Wednesday to two dollar increase per one barrel and closed at a price of $ 44 per one barrel. This, came following fears of the shortage of supplies provoked by the announcement of the reduction of US crude oil storage for the fifth running week.