OPEC AND OIL PRICES

Iraq & Sets $17.50/B Official Price of Basrah Light at Turkish Mediterranean Terminal

MEES is reliably informed that Iraq's State Oil Marketing Organization (SOMO) has notified its customers that the official price for Basrah Light crude at the Turkish Mediterranean terminal of Ceyhan (34° API) will be $17.50/B. This compares with $17.60/B for Kirkuk (36° API, ex-Ceyhan) and $17.30/B for Basrah Light (34° API, ex-Yanbu'). Although Iraq is not...