A spokesperson of the Iraqi Oil Marketing Company “SOMO” said that Iraq has officially planned to increase the selling shipments for the Month of March.
The Basra Light Crude oil price designed for Asia is considered at 0.20 U.S dollars and it is more attractive price compared to the prices of Dubai and Oman at -2.60 U.S dollars per barrel, and these figures are collected from previous month. The spokesperson of SOMO said in a statement and e-mailed to the press agencies. This statement indicated that Basra Crude oil price was set at an average discount of 6.30 U.S dollars per barrel compared to the Dubai and Oman crude oil prices.
The price of Basra Light Crude Oil shipments to the North and South American markets in the month of March showing a high index at 0.55 U.S dollar per barrel and it is considered a rise from previous month. The Kirkuk crude oil is being delivered to the United States with an expected price at 0.70 U.S dollars per barrel. The price of Basra Light Crude Oil shipments to Europe is expected at 0.10 U.S dollars per barrel, as previously it was at -4.95 U.S dollars per barrel. The price of Kirkuk Crude Oil increased at -4.50 U.S dollars per barrel for the shipments of March 2016.