OPEC’s No.2 Cuts Oil Exports To Asia In Surprise Move

Iraq, OPEC’s second-biggest producer and the least compliant member in all previous rounds of cuts, has told some of its Asian oil buyers that it would not send the full contractual volumes requested for June, traders who were informed of the measure by Iraq’s state oil marketing company SOMO told Bloomberg on Wednesday.   At least three Asian oil customers who buy oil from Iraq were told not to expect the full volumes next month, according to Bloomberg’s sources. It is a rare occurrence for OPEC’s biggest…