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Iraq Cuts February Basrah Medium Crude to Asia to $1.30 Discount

Bloomberg.com · last updated

Iraq cut the pricing of its Basrah Medium crude for Asian customers in February, following a similar move by Saudi Arabia to lower the cost of its flagship oil to buyers in the biggest market.

State oil marketer SOMO lowered Basrah Medium to a discount of $1.30 a barrel to the regional benchmark, compared with a discount of $1.05 in January, according to a pricing list.

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