Iraq lowers the price of Basra crude to Asia and brought to Europe and America

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Iraq lowers the price of Basra crude to Asia and brought to Europe and America Empty Iraq lowers the price of Basra crude to Asia and brought to Europe and America

Post  Admin on Sun Jun 09, 2013 11:41 am



Sunday, June 9, 2013 17:04



Twilight News / Ministry said Iraqi oil, Sunday, that Iraq is reducing the price of shipments July of Basra Light crude for buyers Asians 35 cents to a level below 50 cents a barrel from the average crude Oman and Dubai while raising the prices of shipments destined for the United States and Europe.

In remarks made ​​by ministry spokesman Assem Jihad told Reuters and seen by "Twilight News" determine the price July shipments of raw materials Basra to U.S. buyers at a discount of $ 1.70 per barrel for Argus index versus a $ 1.90 discount for the previous month.

The price of Basra crude for European buyers is $ 3.25 less than the spot price for North Sea crude standard, compared with a discount of $ 3.35 in the previous month.

The price July supply of Kirkuk crude for the Americas premium of one dollar above the index Argus high-sulfur crude compared with the addition of $ 1.30 in the previous month.

July and determine the price for Kirkuk crude destined for Europe at least $ 2.10 per barrel for Brent compared to a discount of $ 1.90 in the previous month.

The bad weather caused Saturday to cut oil exports from the ports of Basra in southern Iraq to 864 thousand barrels per day from 2.23 million barrels per day in the previous day.

And characterized by exports from the port of Basra - the main oil industry center in Iraq - volatile due to weather or technical problems.

And injects the country most of its oil exports through the ports south coastal بشريطه the small Gulf.

The total exports fell to 2.484 million barrels per day in May from 2.62 million barrels per day in April.

And cause frequent attacks to stop pumping through the northern pipeline, which carries Iraqi crude from the northern Kirkuk oil fields to the port of Ceyhan on the Mediterranean Sea in Turkey.

The Iraq aspires to double oil production over the next three years and aims to reach him in the long run to 12 million barrels per day.

It is likely that experts achieves OPEC member country about half that level because of problems in the infrastructure, transport and logistics.


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