Iraq raises the price of oil sold to Asia

Shafaq News / The Iraqi State Organization for Marketing of Oil (SOMO) said on Thursday, that Iraq raised the official selling price for Basra Light crude to Asia to $ 1.25/barrel in July, above the average prices of Oman / Dubai offered from a discount of $ 4.55/barrel in June.

SOMO said in a statement, that it was decided to price Basra heavy crude for Asia at a discount of $ 0.60/barrel from the prices of Oman / Dubai offered.

The official selling price of Basra Light crude for North and South American markets was set at $ 0.85/barrel, in July, above the Argus Sour Crude Index for high-sulfur materials, up to $ 0.55 from the previous month, while the price of Kirkuk crude to the United States increased to $ 1.60/barrel above Argus.

For Europe, the official selling price of Basra Light crude in July increased by $ 2.10/barrel, above the price of Brent, from a discount of $ 2.30/barrel, while the official selling price of Kirkuk crude for July increased to plus $ 2.65.