SOMO Raises February Price Formulas Taking Advantage ofUrals Tightness
Iraq痴 February price formulas, which were approved by theSanctions Committee on 19 January, have outpaced
market expectations. The usual practice has been for changesin Iraqi price formulas to follow the monthly changes in Saudi Aramco pricesfor Arab Light crude. This time, however, Iraq痴 State Oil MarketingOrganization (SOMO) has raised February prices for both Kirkuk and Basrah Light...