Vitol Emerges as Iraq’s Second-Largest Crude Buyer
The trader bought at least 25 million barrels in September, underscoring the premium on shipping capacity amid regional transport risks.
Vitol purchased at least 25 million barrels of Iraqi crude scheduled for September loading, making it the country’s second-largest buyer for the month behind Abu Dhabi National Oil Company, according to Iraqi News, citing Reuters and an Iraqi energy-sector official. The reported increase highlights the growing importance of traders able to secure tankers and logistics during a period of elevated regional shipping risk.
Iraq has been seeking to keep crude flowing to global customers despite difficult transit conditions and higher freight and insurance costs. Buyers have demanded larger discounts to compensate for those risks, while Baghdad’s limited access to its own tanker fleet has made external trading and shipping capacity more strategically important.
Original reporting: Iraqi News ↗