Iraq's Kirkuk oil exports to Turkey's Ceyhan port have started at 170k BPD and will gradually increase to 250k BPD
Iraq's Kirkuk oil exports resuming at 170k BPD, with plans to ramp up to 250k BPD, signals a positive supply recovery that could alleviate some of the ongoing tightness in global oil markets.
Citi forecasts Brent between USD 110-120/bbl in the coming days due to conflict-driven supply disruptions; USD 150-200/bbl could be hit if Iran targets more energy infrastructure or if Hormuz stays closed
Brazil's Transport Minister announces steps to enforce minimum freight rates for truckers
Iraq's Kirkuk oil exports to Turkey's Ceyhan port have started at 170k BPD and will gradually increase to 250k BPD
EIA Expectations: Crude -0.58M, Distillate -1.5M, Gasoline -1.4M
Pakistan is to temporarily pause strikes against Afghanistan, between March 19-24th
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This increase is particularly relevant as WTI prices react to changes in supply dynamics, suggesting potential downward pressure on prices if production levels rise steadily. Keep an eye on how this development interacts with OPEC's output strategies and overall market sentiment.
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