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Sumo cuts the price of Basra oil

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rocky
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Sumo cuts the price of Basra oil

Post by rocky on Thu 11 Jan 2018, 2:47 am

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Sumo cuts the price of Basra oil





Iraq has cut official sales prices for Basrah crude worldwide in February.
The Iraqi oil marketing company "Sumo" said in a statement on Thursday that Iraq lowered the official sale price of Basra light crude in February shipments to Asia, 30 cents from the previous month to become a discount of five cents a barrel than the average prices of Oman and Dubai. 
The reduction comes amid shrinking refining profits, falling prices in the spot market and keeping pace with other producers in the Middle East selling official prices for their competing materials.






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