Iraq’s Oil Marketing Company (SOMO) has sold 2 million barrels of November-loading Basra Light at a higher premium, traders said on September 30, according to Zawya citing Reuters.

SOMO sold the 2 million barrels at a premium of a little more than $1 per barrel to its official selling price (OSP).

The Cargo was sold to China’s International United Petroleum and Chemicals Company, Ltd (Unipec), a subsidiary of Sinopec Corporation, the traders pointed out.

Prior to this, SOMO sold October-loading Basra Light cargo at a premium of 60 cents to 80 cents per barrel to its OSP.