Iraq cut the official sale price of Basra light crude to Asia in March, by 35 cents from the previous month to average prices offered to Oman and Dubai less than $ 0.40 per barrel.
According to a price report published by Reuters, Basra heavy crude was priced to Asia in the same month to average prices of Oman and Dubai crude, down from $ 4.20 a barrel, down 45 cents.
Prices for the sale of crude to Asia in March were the lowest in six months, with Iraq, OPEC’s second largest producer, cutting prices for Basra crude for Europe in March.
For Europe, the official sale price of Basrah Light crude in March fell by $ 0.95 to Brent’s price of $ 4.10 per barrel and the official selling price of Basra’s heavy crude to Brent’s price fell below $ 7.50 a barrel.
The official sale price of Basra light crude for shipments to North and South American markets in March was set at $ 0.60 a barrel below the Argos high sulfur index, down from the previous month.
The sale price of Kirkuk crude to the United States fell earlier, a dime to become a premium of $ 0.45 a barrel above the index of Argos.