OPEC AND OIL PRICES

Iraq Sets Kirkuk Price at $28.18/B

Iraq has set an official price of $28.18/B for its 36° Kirkuk crude f.o.b. the Turkish Mediterranean port of Ceyhan effective 1 February, MEES understands. This represents a reduction of $1.25/B from the previous price of $29.43/B. Iraq has evidently retained the traditional differential of plus 18 cents for Kirkuk crude as compared with the Arabian Light marker, but has dropped the 25-cent pipeline transport tariff previously...