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[size=38]Iraq Fails To Sell Two Million Barrels Of Basra Crude
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LAST UPDATE 04/18/2022 | 2:48 PM
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LAST UPDATE 04/18/2022 | 2:48 PM
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Traders said on Monday that the Iraqi Oil Marketing Company (SOMO) was unable to sell two million barrels of Basra Medium Crude for loading from May 25-27 because the offers were too low, according to Reuters.
Dealers added that the highest bid was less than $3.50 a barrel for Basra crude's official selling price.
One of the traders said that the official selling price was too high, and therefore the offers were at big discounts. finished/25h
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