Middle East Economic Survey

VOL. LIII

No 8

22-Feb-2010

Iraq To Switch To ASCI Benchmark For April Pricing

Iraqs State Oil Marketing Organization (SOMO) will price sales of crude oil destined for the US at differentials to the Argus Sour Crude Index (ASCI) benchmark beginning in April, Argus Media, which launched the ASCI benchmark in May 2009, reported on 11 February. Iraq has been pricing its US crude oil exports against differentials against Platts WTI; however, that will change...