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Bloomberg: Iraq breaks the Saudi pattern of oil prices to America
September 15, 2021
Bloomberg: Iraq breaks the Saudi pattern of oil prices to America
September 15, 2021
Ultra Iraq - Editorial Team
Bloomberg revealed a sharp reduction in the prices of Iraqi crude destined for the United States of America, in a "bold" move that breaks the Saudi price pattern.
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The site said in a report translated by "Ultra Iraq", Wednesday, September 15, that "Basra Light barrels in the country will be sold at a discount of $1.15 a barrel during the month of October to buyers in the Americas, according to a price list from the Iraqi state oil marketing company, compared to At a slight premium - 15 cents a barrel - against the same mark for the month of September."
The report described Baghdad's move as a "remarkable" given that Iraq and many Middle Eastern countries "seldom differ much from what Saudi Arabia does when it comes to pricing."
Earlier this month, the kingdom kept its main crude - Arab Light - at a premium of $1.35 a barrel for the month of October, unchanged from September, according to the report.
The report indicated that Iraq reduced the prices of buyers everywhere, with the exception of Kirkuk barrels sold from a port in the Mediterranean, where these remained unchanged.
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