June 6, 2018 / 7:46 PM / in 5 months

Iraq-Iran Kirkuk oil swap deal has not started - Iraqi minister

BASRA, Iraq, June 6 (Reuters) - Iraq and Iran have not begun exchanging crude oil due to technical reasons, Iraqi Oil Minister Jabar al-Luaibi said on Wednesday, contradicting Iran’s oil ministry news agency.

Iraq agreed last year to ship crude from the northern Kirkuk oil field to Iran for use in its refineries after which Iran would deliver the same amount of oil to Iraq’s southern ports.

Iran’s oil ministry news agency SHANA said on Sunday the exchange had started.

Luaibi, speaking to Reuters on the sidelines of an oil agreement signing ceremony in Basra, also said OPEC would meet on June 23 but a production increase was not on the table as the market is stable and prices are good. (Reporting by Aref Mohammed; Writing by Ahmed Aboulenein; Editing by Mark Potter)

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