Crude prices were steady at the end of the week, though plenty was going on.
In London trading, Brent crude futures were slightly higher trading at about US$113.60 and West Texas Intermediary futures moved up also changing hands at US$106.15.
Iraq, of course, remains on the radar though fears have eased slightly as exports from the south of the country remain unaffected.
In the Kurdistan region, in the north, however, exports are said to be rising.
Kurdistan recently sold just over US$100mln of exported crude, and in the past 24 hours there have been reports that further export have now either been ship or are being prepared – with as many as four shipments are said to have been dispatched.
Exports equating to 200,000 to 250,000 barrels per day are being targeted for July, according to reports, and by aim is to have output in the order of 1mln barrels per day from the region by the end of next year.
Elsewhere, exports are now expected to rise from Libya after another field came online, the country is now at 300,000 barrels per day. The addition of the El Feel is accounts for about a third of the export.
BP has signed a Russian shale deal with Rosneft whereby it will buy up to 12mln tonnes of oil over five years.
It comes at the same time as a Russian official threatened “grave consequences” will follow Ukraine’s pact with the European Union at the same time as Putin spoke of long-term cease fires and peace talks.