Iraq’s official oil marketing company (SOMO) said on Monday that Iraq has cut the official sale price for August shipments of Basra light crude to Asia to $ 0.10 compared to the previous month to less than $ 0.65 a barrel from the average prices offered to Oman and Dubai.
Sumo said in a statement today (July 10, 2017) that “the price of Basra light crude for Asia in the same month set at a discount of $ 4.45 per barrel to the level of average prices offered to Oman and Dubai.”
For shipments to Europe, the price of Basra light crude was set at $ 0.45 to Brent’s price of $ 2.85 per barrel, while the price of August’s shipments of Kirkuk crude was reduced to $ 3.15 less than Brent’s price.

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