Iraq Cuts Crude Supplies to Asia in July
Iraq’s Oil Marketing Company (SOMO) has made significant cuts in Basra crude supplies to Asia for the upcoming July as Iraq steps up efforts to comply with OPEC+ cuts.
Iraq’s Oil Marketing Company (SOMO) has made significant cuts in Basra crude supplies to Asia for the upcoming July as Iraq steps up efforts to comply with OPEC+ cuts.
SOMO sold the 2 million barrels at a premium of a little more than $1 per barrel to its official selling price (OSP).
Iraq failed to sell a cargo of two million barrels of Basra Heavy during an auction on the Dubai Mercantile Exchange yesterday.
Iraq will offer up to four million barrels of crude in a Platt’s auction this week.
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