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Iraq Lowers OSPs for January

OIL

Iraq lowered the official selling prices for January with Basrah Medium to Asia down to a -0.50$/bbl discount to the Oman-Dubai benchmark according to SOMO.

  • Asia pricing vs Oman-Dubai:
    • Basrah Medium at -0.5$/bbl vs +0.9$/bbl in Dec
    • Basrah Heavy at -5.05$/bbl vs -3.25$/bbl in Dec
  • US and Americas pricing vs ASCI:
    • Basrah Medium at -2.00$/bbl vs -1.7$/bbl in Dec
    • Basrah Heavy at -6.25$/bbl vs -5.75$/bbl in Dec
    • Kirkuk at 0$/bbl unchanged from Dec
  • Europe pricing vs Dated Brent:
    • Basrah Medium at -9.9$/bbl vs -8.2$/bbl in Dec
    • Basrah Heavy at -14.75/bbl vs -13.95$/bbl in Dec
    • Kirkuk at -4.35$/bbl vs -2.55$/bbl in Dec

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