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Oil exports and revenue sharing between Iraq and Kurdistan likely – Malcolm Graham-Wood

FXStreet (Barcelona) - Independent Analyst, Malcolm Graham-Wood views that a full agreement is becoming more likely for a potential Oil policy settlement between Iraq and Kurdistan.

Key Quotes

“There are all sorts of stories doing the rounds about Oil Ministers trying to cut deals but the only one will count will be in Vienna next Thursday so dont expect too much.”

“Libya is still a fair bit short as the El Sharara field isn’t back up yet but the EIA report that US crude and condensate production was over 8.6m b/d in August the highest since 1986.”

“It is becoming clear that a full agreement is becoming more likely between Iraq and Kurdistan on a potential oil policy settlement that may lead to an agreement on oil exports and revenue sharing post the temporary export deal announced last week.”

“Under that deal, Iraq will receive oil from the KRG via its exports through Turkey as Botas will allocate oil to SOMO’s storage tanks at Ceyhan. In return the KRG will receive payment from Baghdad thought to be $500m at present.“

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