Iraqi Price Formulas For May
Iraq's State Oil Marketing Organization (SOMO) announced last week the price formulasfor Iraqi crudes in May, which follow cent-for-cent the May price movements for Arab Lightannounced by Saudi Aramco a fortnight ago, with a decrease of 15 cents/B to the US, nochange for European destinations and an increase of 15 cents for crude headed to the FarEast. The following table shows FOB price formulas for Iraqi crudes for January-May...
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