Chinese oil firms will keep the amount of crude oil bought from Iraq steady for the first time in almost a decade, Reuters reported, citing five unnamed sources with knowledge of the situation. A concern for buyers has been the varying quality of Basra light, Iraq’s key export grade. Another factor is that demand growth from China has been slowing, with expectations of a rise of 400,000 barrels per day (bpd) in 2015 compared to 500,000 bpd this year, according to Amrita Sen of Energy Aspects.
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