Iraq to cut Basrah Light oil October prices in Asia, US ...Kuwait

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Iraq to cut Basrah Light oil October prices in Asia, US
Iraq set on Tuesday the October price of its Basrah Light crude to Asian customers at $0.85 a barrel above the average of the Oman and Dubai benchmark crudes, down $1.40 from the previous month, according to a pricing document from the state-oil marketer. Iraq has cut Basrah crude prices for Asia by a larger extent compared with Saudi grades following unsold Basra crude cargoes last month. Oil giant Saudi Aramco on Sept lowered the price differential of light crude for delivery to the Far East in October to a premium of $1.7 per barrel versus the average of Oman and Dubai crudes. This comes as Bloomberg on Tuesday reported Baghdad is also to lower its October US rates

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