In Breakaway Move From Saudis, Iraq May Change Oil Pricing

In a bid to increase oil revenues and possibly setting the
stage for its own benchmark crude grade, Iraq has told customers it
may change the way it prices Basra crude for the Asian market,
Reuters reported on Monday, quoting a letter by Iraq’s state oil
marketing company SOMO it had seen. According to SOMO’s letter, the
company is asking customers for input regarding a plan to change
the Basra crude pricing for Asia to Dubai Mercantile Exchange (DME)
Oman futures beginning next year, dropping the average of Oman and
Dubai quotes by…

In a bid to increase oil revenues and possibly setting the
stage for its own benchmark crude grade, Iraq has told customers it
may change the way it prices Basra crude for the Asian market,
Reuters reported on Monday, quoting a letter by Iraq’s state oil
marketing company SOMO it had seen. According to SOMO’s letter, the
company is asking customers for input regarding a plan to change
the Basra crude pricing for Asia to Dubai Mercantile Exchange (DME)
Oman futures beginning next year, dropping the average of Oman and
Dubai quotes by…