Iraq to cut the price of Basra Light crude to Asia 10 cents in January next

Iraq to cut the price of Basra Light crude to Asia 10 cents in January next

Tuesday, December 10th, 2013 19:26

Iraq to cut the price of Basra Light crude to Asia 10 cents in January nextBAGHDAD / translation Baghdadi News … Source said the trade in Iraqi oil, Tuesday, Iraq identified the official selling price for shipments of Basra Light crude downloading month January next flights to Asian buyers premium of 80 cents a barrel above the average price of crude on the Sultanate of Oman and Dubai, down 10 cents from the previous month, according to Reuters news agency .
It was decided to raise the official selling price of Basra Light crude shipments to Europe to become less than the $ 4.15 for Brent in January, up from a discount of $ 4.45 a barrel in the month of December.
And increased the official selling price for supply flights to Europe from Kirkuk crude discount to Brent about $ 2.35, up 35 cents from the month of December.
And determine the selling price of Basra Light crude to the United States at least 85 cents on the Argus index, compared with a discount of 95 cents in the month of December. The price of Kirkuk crude to U.S. buyers at a premium of $ 1.05 over the Argus, an increase of 10 cents for the month of December.
The expected reduction without price difference Basra Light crude with Saudi Arabian crude to average 30 cents a barrel. This may affect the price difference immediate shipments of Iraqi crude downloads when trading begins in the month of February next later this month. The price of Basra Light to deduct 40 cents to $ 1.10 a barrel for the Arab average in 2013, compared with a premium in the previous year, which allowed Iraq to bypass Iran to become the fifth-largest supplier to China.
Iraq aims to increase production more than a million barrels per day to more than 4 million barrels per day in 2014, even after renewed Organization of Petroleum Exporting Countries, OPEC last week its commitment to the production ceiling of 30 million barrels per day for the first half of 2014. The price of Basra Light crude for December Download Asian buyers determine a premium of $ 0.90 a barrel above the average crude Oman and Dubai. Ended

albaghdadianews.com