Iraq to cut price of Basrah Light crude to U.S. buyers in May

Iraq to cut price of Basrah Light crude to U.S. buyers in May

April 11. 2010

BAGHDAD, said the Iraqi oil marketing company (SOMO) said Sunday that Iraq cut the official selling price of Basrah Light crude to American buyers for the month of May by 20 cents to 1.70 dollars less than the price of Argus standard.

And increases the price of Kirkuk crude to U.S. refiners in May, up 20 cents on the price of Argus.

And determine the price of Basra to Asian buyers in May at a level below 1.15 dollars for the average crude Sultanate of Oman and Dubai, compared with a level below 1.10 dollars in April.

And determine the price of Basra to European buyers at a level below 4.70 dollars for the spot price of North Sea crude compared to a level below 3.40 dollars in the previous month.

AP