AGL 38.50 Increased By ▲ 0.93 (2.48%)
AIRLINK 130.90 Decreased By ▼ -1.60 (-1.21%)
BOP 5.60 Decreased By ▼ -0.04 (-0.71%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.66 Decreased By ▼ -0.21 (-2.37%)
DFML 40.80 Decreased By ▼ -0.20 (-0.49%)
DGKC 88.79 Decreased By ▼ -1.37 (-1.52%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.47 Decreased By ▼ -0.03 (-0.05%)
FFL 10.58 Increased By ▲ 0.43 (4.24%)
HUBC 109.20 Increased By ▲ 2.80 (2.63%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 7.03 Increased By ▲ 0.18 (2.63%)
MLCF 42.50 Increased By ▲ 0.70 (1.67%)
NBP 59.10 Increased By ▲ 0.52 (0.89%)
OGDC 183.95 Increased By ▲ 2.70 (1.49%)
PAEL 25.60 Decreased By ▼ -0.10 (-0.39%)
PIBTL 5.90 Increased By ▲ 0.07 (1.2%)
PPL 147.81 Decreased By ▼ -0.59 (-0.4%)
PRL 23.51 Increased By ▲ 0.29 (1.25%)
PTC 16.48 Increased By ▲ 1.24 (8.14%)
SEARL 69.58 Increased By ▲ 0.79 (1.15%)
TELE 7.21 Decreased By ▼ -0.03 (-0.41%)
TOMCL 35.75 Decreased By ▼ -0.25 (-0.69%)
TPLP 7.82 Increased By ▲ 0.42 (5.68%)
TREET 14.25 Increased By ▲ 0.01 (0.07%)
TRG 50.51 Decreased By ▼ -0.34 (-0.67%)
UNITY 26.81 Increased By ▲ 0.41 (1.55%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,819 Increased By 51.2 (0.52%)
BR30 29,774 Increased By 373.8 (1.27%)
KSE100 92,355 Increased By 417.1 (0.45%)
KSE30 28,852 Increased By 108.7 (0.38%)

BENGALURU: Barclays on Tuesday warned that a disruption in oil exports by the Kurdistan Regional Government (KRG) through the year-end would imply a $3 upside to their $92 per barrel 2023 Brent crude price forecast and might lead to some output loss.

Brent crude futures gained 27 cents to $78.39 a barrel by 1458 GMT, while US WTI crude futures were up 28 cents at $73.09, rising on the back of supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being contained.

Iraq was forced to halt around 450,000 barrels per day (bpd) of crude exports, or half a percent of global oil supply, from the semi-autonomous Kurdistan region on Saturday through an export pipeline that runs from its northern Kirkuk oil fields to the Turkish port of Ceyhan.

It is unclear how long the disruption might last and a protracted disruption might lead to some output loss, Amarpreet Singh, an energy analyst at Barclays, wrote a note.

“However, a sustained recovery in flows might be contingent on a resetting of oil revenue sharing terms between the federal government and KRG, which might be a complicated process,” Singh highlighted.

Comments

Comments are closed.