Iraq raises the prices of its exported oil to three continents in January
Shafaq News/ The Iraqi Ministry of Oil decided, on Monday, to raise the price of Basra Medium crude, exported to Asia, for the month of January next.
The ministry stated in an official document seen by Shafak News Agency, that the Oil Marketing Company "SOMO" affiliated with the ministry raised the average price of Basra oil by 10 cents for buyers in Asia for the month of January next, at a premium of $1.40 over the average of Dubai and Oman crudes.
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It added that it also raised the prices of Basra Heavy crude to Asian buyers by 60 cents, at a discount of 1.75 dollars from the Dubai-Oman average.
And it indicated that Basra Medium crude exported to America was also raised for the month of January by 95 cents, at a discount of $1.85 on the average Argus crude, and Basra Heavy crude, exported to America, was raised by 30 cents, at a discount of $3.60 on the standard Argos crude.
According to the document, Kirkuk crude exported to America rose by 40 cents, at a premium of 1.40 dollars over the average standard of Argos crude.
It indicated that Basra Medium crude exported to Europe for the month of January was raised by 55 cents at a discount of 5.15 dollars over the average North Sea "Brent" crude, while Basra Heavy crude increased by 60 cents at a discount of 7.60 dollars from the price of Brent, while the price of Kirkuk crude exported to Europe was reduced by 45 cents, $0.45 off the average price of Brent.
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