SINGAPORE, Feb 11 (Reuters) - OPEC's second-largest producer Iraq expects to load 6.9 percent less Basra crude in March than the previous month, with most of the reduction coming on the heavier grade, trade sources said on Thursday.
The cuts would come after Iraq raised crude prices to Asia for March barrels and follow a loading schedule that points to record export volumes for February.
Iraq plans to export 3.38 million barrels per day (bpd) of crude from its southern terminals in March, the sources said, citing a preliminary loading programme for next month, down from a planned 3.63 million bpd in February.
Iraq's state-owned Oil Marketing Company, or SOMO, could not be immediately reached for comment.
Basra Light exports are expected to edge down to 2.65 million bpd in March from 2.67 million bpd in February.
Exports of Basra Heavy in March could drop to 732,000 bpd from 959,000 bpd.
February exports, if realised, could top a record volume seen in November. Still, loadings at the southern ports are prone to delays due to weather and infrastructure constraints.
(Reporting by Florence Tan; Editing by Tom Hogue) ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))
The cuts would come after Iraq raised crude prices to Asia for March barrels and follow a loading schedule that points to record export volumes for February.
Iraq plans to export 3.38 million barrels per day (bpd) of crude from its southern terminals in March, the sources said, citing a preliminary loading programme for next month, down from a planned 3.63 million bpd in February.
Iraq's state-owned Oil Marketing Company, or SOMO, could not be immediately reached for comment.
Basra Light exports are expected to edge down to 2.65 million bpd in March from 2.67 million bpd in February.
Exports of Basra Heavy in March could drop to 732,000 bpd from 959,000 bpd.
February exports, if realised, could top a record volume seen in November. Still, loadings at the southern ports are prone to delays due to weather and infrastructure constraints.
(Reporting by Florence Tan; Editing by Tom Hogue) ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))
