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The U.S. Energy Information Administration said in its monthly report that U.S. crude and condensate output hit a record 11.35 mil bpd in August, up from 10.93 mil in July. Output is up by nearly 25pct over the last year, the fastest increase since the 1950s (excluding the recovery from hurricanes).

Data from China’s General Administration of Customs showed on Thursday that China brought in 2.13 mil tonnes (518,300 bpd) of Iranian crude oil in September, down 34 pct from 3.22 mil tonnes last September. Data also showed China’s oil imports from Iran over the first nine months of the year were at 24.49 mil tonnes, still up 4 pct from the same period in 2017.

Iraq’s oil ministry said on Thursday that the country’s oil exports from its southern ports on the Gulf now average 3.469 mil bpd in October, lower than September’s average of 3.560 mil bpd. The ministry said that the average sale price in October was $74.912 per bbl, generating more than $8 billion in revenue. All volumes shipped in October came from the southern fields, the ministry added.


 

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