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Iraq to cut crude sale «Basra Light price} for Asia
11/10/2016 0:00
[rtl]Follow - up / Mustafa al - Hashemi
announced Oil Marketing Company (SOMO) said Iraq cut the official selling price of crude Basra price of light to Asia in November $ 0.05 shipments to a level below the US$ 1.45 a barrel for the average price of Oman and Dubai crude from the previous month, at a time when energy minister said Saudi Arabia said the Organization of Petroleum exporting countries (OPEC) need to ensure that no excessive restriction of production and not cause adverse shock in the market.
she (SOMO) said in a statement that he decided to Basrah heavy flying to Asia in thesame month shipments pricing of $ 6.15 a barrel below the average price of Khami Oman and Dubai.
and sets the official selling price of crude Basrah light in November , shipments of theprice to the Americas markets at Argus index High crude sulfur minus $ 0.60 a barrel ,unchanged from the previous month while selling Kirkuk crude price increased to US dollars 0.35 a barrel above the index.
for shipments to Europe dropped the price of Basra light crude to $ 0.20 for up to Brent minus USD 4.90 a barrel was the price in November of Kirkuk crude shipments changes to a discount of $ 4.85.
so said the Saudi energy Minister Khalid al - Falih said on Monday that the Organization of Petroleum exporting countries (OPEC) need to ensure that no excessive restriction ofproduction and not cause adverse shock in the market, adding that he was optimistic that an agreement on production by November.
at the World energy Conference in Istanbul Falih said that OPEC needs to act in a balanced and responsible and that what still it believes it is important for the organization role.
participating officials (OPEC) in a series of meetings in order to finalize details private to agree to cut production , which was reached last month in Algeria. He
is scheduled to meet Saudi Arabia 's energy Minister Khalid al - Falih his Russian counterpart Alexander Novak in Istanbul, according to Falih announced to discuss reactions to Algeria last agreement.
Faleh said in a speech at the international energy Forum to be hosted by Istanbul from 9 to 13 October now: "I will meet my colleague , the minister Novak in Istanbul during thenext two days, and we will explore reactions to what happened in the meeting Algeria. "
the Organization of the Petroleum exporting countries (OPEC) after its extraordinary meeting in Algeria, last month, announced the initial members agree on a production cut to between 32.5 million and 33 million barrels a day from about 33.5 million barrels per day at present.
Faleh said: The time has come to do something different from 2014 because market forces have changed since then , and he is optimistic to reach a full agreement on theproduction of (OPEC) by November.[/rtl]
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