Supply getting tighter.
Last Update: Saturday, August 14, 2004. 4:14pm (AEST)
Iraq shuts down main oil pipeline
Authorities in southern Iraq have shut down the main pipeline carrying oil for export.
Officials say the situation in the southern city of Basra is bad, with intelligence showing a rebel militia could strike infrastructure.
Flows to offshore terminals, which account for all of Iraq's oil exports, are running through another smaller pipeline at a rate of 1 million barrels per day,
The larger pipeline has a capacity of 1.5 million bpd.
--Reuters
