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OIL: Iraq Raises Basrah OSPs to Asia for November

OIL

Iraq’s SOMO raised the OSP for Basrah Medium to Asia for November to a $0.4/bbl premium to the Oman-Dubai average compared to a discount of $0.5/bbl for October according to Bloomberg.

  • Iraq sets Basrah Heavy to Asia at $2.75/bbl discount for Nov. vs -$3.50 for Oct.
  • The OSPs to the US were steady with Basrah Medium crude to US unchanged at -$1.10/bbl versus ASCI.
  • The Basrah Medium crude OSP to Europe is up to -$4.70/bbl vs Dated Brent for November compared to -$5/bbl in October.
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Iraq’s SOMO raised the OSP for Basrah Medium to Asia for November to a $0.4/bbl premium to the Oman-Dubai average compared to a discount of $0.5/bbl for October according to Bloomberg.

  • Iraq sets Basrah Heavy to Asia at $2.75/bbl discount for Nov. vs -$3.50 for Oct.
  • The OSPs to the US were steady with Basrah Medium crude to US unchanged at -$1.10/bbl versus ASCI.
  • The Basrah Medium crude OSP to Europe is up to -$4.70/bbl vs Dated Brent for November compared to -$5/bbl in October.