IRAQ

Iraq Affirms Adherence to Official Prices

Iraq's Oil Marketing Authority (SOMO) has firmly denied recent media reports that it is offering Iraqi crude oil at market-related prices below official government selling prices (GSP). Dr. Razzi Salman, SOMO's Chief Executive, told MEES last week that during the recent volatile market price surge Iraq made two spot-related short-term contracts for Siftings in the July-September period at Brent related prices minus $1.00-1.10/B but...