Iraq to sell Basra oil through Dubai

Dubai/ Iraq TradeLink: Oil trading sources reported that Iraqi Oil Marketing Company (SOMO) informed long-term buyers that it will sell two million barrels of Basra light oil via a tender through Dubai Mercantile Exchange. This is the first time that Iraqi Basra crude oil to be sold through this exchange. The sources pointed that no bids will be accepted if they do not have extra prices above the official selling rate for June, 2017.