Iraq, Saudi cut oil exports

Manama: Iraq and Saudi Arabia cut crude oil exports in December for a second month, while fellow Opec member Venezuela boosted shipments to their highest in more than four years, according to the Joint Organisations Data Initiative (Jodi).

Iraq, the biggest producer in the Opec after Saudi Arabia, curtailed exports by 10 per cent to 2.35 million barrels a day, data posted yesterday on the initiative's website showed. The Saudi kingdom shipped 7.06 million barrels a day in the month, down 1.3 per cent from November, according to the data.

Venezuela increased crude shipments in December by 19 per cent to 1.97 million barrels a day, the most since July 2008, when it exported 2.24 million, the initiative known as Jodi said.


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