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Iraq Reduces Crude OSP to Asia

OIL

Iraq set the October official selling price of Basrah Medium to Asia at a +1.40$/bbl premium to the Oman-Dubai benchmark down from a premium of 5.1$/bbl last month according to SOMO.

  • Asia pricing vs Oman-Dubai:
    • Basrah Medium at +1.40$/bbl vs +5.1$/bbl in Sep
    • Basrah Heavy at -2.50$/bbl vs +0.5$/bbl in Sep
    • US and Americas pricing vs ASCI:
      • Basrah Medium at -2.10$/bbl unchanged from Sep
      • Basrah Heavy at -5.60$/bbl vs -5.3$/bbl in Sep
      • Kirkuk at +0.30$/bbl unchanged from Sep
    • Europe pricing vs Dated Brent:
      • Basrah Medium at -9$/bbl vs -8.1$/bbl in Sep
      • Basrah Heavy at -13.55$/bbl vs -12.75$/bbl in Sep
      • Kirkuk at -3.50$/bbl vs -2.75$/bbl in Sep

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