Brent – ANZ on signs of oil supply tightness easing

<p>A handy snapshot summary from ANZ on oil supply:</p><ul><li>signs of supply tightness easing</li><li>Iraq’s oil minister, Hayyan Abdul Ghani, is reported to be planning the resumption of oil exports through the Ceyhan terminal. Output has been curtailed by a dispute over payments between Iraq and Turkey over the past few months. Prior to this, it was exporting around 500kb/d. </li><li>This was exacerbated by data showing exports from Iran surged to 2.2mb/d this month, according to data from TankerTracker.com. This is around levels seen prior to the US pulling out of the 2015 Iran nuclear deal and re-imposing sanctions on its oil industry. </li><li>The rise in output may dull the impact of the cut in output from OPEC+ alliance.</li></ul><p>—</p><p>I posted yesterday on some interesting demand info, China demand not as dire as though:</p><ul><li><a href="https://www.forexlive.com/news/brent-chinas-weak-economy-property-debt-implosion-is-weighing-but-oil-use-holding-up-20230821/" target="_blank" rel="follow" data-article-link="true">China's weak economy &amp; property debt implosion is weighing, but oil use holding up</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.