Commodities
Iraq Stops Diesel Import Deals as Refinery Upgrades Boost Output
- The country didn’t extend term deals for diesel this year
- Traders still supplying gasoline as Iraq aims to cut imports
Iraq halted contracts to import diesel after the upgrade of some refineries helped bolster local output, putting the country on track for fuel self sufficiency.
The country wound down purchase deals at the end of last year and hasn’t bought the fuel under long-term contracts so far in 2024, according to traders involved in the market. It has bought three diesel cargoes this year, according to market data provider Vortexa, but traders said those were spot shipments.