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Document: Iraq says it will not offset the costs of shipping crude in April to Europe and the Americas
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Economy News _ Baghdad
The Iraqi Oil Marketing Company (SOMO) notified its clients that it will not be able to compensate for a large jump in shipping costs for crude oil shipments to Europe and the Americas in April, according to a copy of a notice seen by Reuters on Thursday.
The company said in the notice issued to customers that the decision comes because of "the unprecedented big changes in freight rates in parallel with a significant drop in crude oil prices."
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