Markets

Iraq sets prices for Basrah heavy crude in May

Published April 12, 2015 Updated April 12, 2015 09:51pm

1 min

By Shoaib Ur Rehman

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ABU DHABI: Iraq has set the May official selling price (OSP) for Basrah heavy crude to the North and South American market at the Argus Sour Crude Index (ASCI) minus $1.40, the State Oil Marketing Organization (SOMO) said on Sunday.

The May OSP for Basra Heavy to Europe was set at dated brent minus $8.45 a barrel while the May OSP to Asia was set at minus $6.85/bbl to the Oman/Dubai average, SOMO said.

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