Middle East Economic Survey
VOL. XLVII
No 47
22-November-2004
OIL PRICES
SOMO Corrects Lower Iraqi Crude Prices By Around $1/B
Iraqs Oil Marketing Company (SOMO) informed customers on 12 November of new oil quality escalation/de-escalation clauses, revision to October prices and the price formulas for December. Basically, SOMO corrected Iraqi crude prices by around $1/B in comparison to the $1.5-2/B revision that customers asked for in letters sent throughout the past two months and during...
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