The Iraqi state oil marketing company, SOMO, announced on Sunday that it had raised the official selling prices for Basra Medium crude heading to Asian markets for the month of June.
According to the statement, the price of Basra Intermediate crude oil was set at a premium of $4.30 per barrel above the average prices of Amman/Dubai, compared to a premium of $17.30 per barrel in May.
The company also raised the price of Basra Heavy crude to Asia for the same month at a premium of $2.20 per barrel above the Oman/Dubai average, compared to a previous premium of $15.20 per barrel in May.
This price adjustment comes within the monthly pricing policy adopted by Iraq to keep pace with changes in demand and global markets in the oil sector.
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