Long rise in Chinese oil orders from Iraq to end, sources say

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.