Iraq has cut the official sale price of Basra light crude to Asia for April to $ 0.35 to a discount of $ 0.75 a barrel from the average prices offered to Oman and Dubai compared to the previous month, the Iraqi Oil Marketing Company (SOMO) said on Tuesday.
“The price of heavy Basra crude to Asia for the same month was priced at a discount of $ 4.50 a barrel from the Oman and Dubai branches,” a company statement said.
The official sale price of Basrah Light crude in shipments to North American and South American markets was set at $ 0.55 a barrel without the Argos index for high sulfur crude, up from the previous month. The price of selling Kirkuk crude to the US rose to $ 0.60 per barrel above the same index.
For shipments to Europe, the price of Basrah Light for April was set at $ 1.10 per barrel, less than $ 5.20 per barrel. The official sale price for Kirkuk crude in April was set to fall below $ 3.65 for Brent.