Iraqi labourers work at an oil refinery in the southern town Nasiriyah in this file photo dated October 30, 2015. Iraq’s southern oil exports have risen more than 300,000 bpd so far in November, according to loading data and an industry source, bringing shipments from Opec’s second-largest producer back towards a monthly record. The increase, after bad weather slowed shipments in October, is an indication of continued high output from major members of the Organisation of the Petroleum Exporting Countries, which looks set to keep policy steady at a meeting this week. Exports from Iraq’s southern terminals have averaged 3.05mn bpd in the first 24 days of this month, up from 2.70mn bpd in October. If sustained, that would beat the existing record high of 3.064mn bpd reached in July. The southern fields produce most of Iraq’s oil. The growth follows investment by Western oil companies in the oilfields and an easing of export bottlenecks, although the pace of expansion is expected to slow in 2016.

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