The Iraqi Oil Marketing Company (SOMO) has informed its customers that it wants to change the benchmark price of Basra crude in Asia to the price of Omani crude oil futures on the Dubai Mercantile Exchange from the average price of Dubai and Oman crude on the Platts platform January 2018.
Reuters quoted the sources as saying that the announcement by the Iraqi oil marketing company "Sumo" to change the benchmark price of Basrah crude in Asia to the price of Omani crude oil futures on the Dubai Mercantile Exchange from the average price of Dubai and Oman crude on the Platts platform as of January 2018 , Will launch a round of consultations between the company and its customers.
Details of the possible change in crude prices are still unclear, while Sumo could not be reached for comment.
Prices will rise by about 2 million barrels of crude per day or nearly two-thirds of Iraqi crude exports from the southern port of Basra, where an oil trader in Singapore pointed out that "Iraq probably wants to have a gauge ore," referring to the role of Saudi Arabia in determining Prices in the area.
According to analysts, the proposed change represents a major shift from OPEC's second-largest producer, Iraq, to the norm he and other members of the Organization such as Saudi Arabia, Kuwait and Iran have used for decades on the basis of the ratings of Standard & Poor's Global Plats In the pricing of their raw materials.
Since April, Iraq has started selling one or two Basra crude per month through an auction platform on the Dubai Mercantile Exchange as a way to explore the price.
Saudi Arabia, the world's largest exporter of crude, sets the price trend for Iranian, Kuwaiti and Iraqi feedstock, affecting more than 12 million barrels of crude destined for Asia per day.
SOURCE
Reuters quoted the sources as saying that the announcement by the Iraqi oil marketing company "Sumo" to change the benchmark price of Basrah crude in Asia to the price of Omani crude oil futures on the Dubai Mercantile Exchange from the average price of Dubai and Oman crude on the Platts platform as of January 2018 , Will launch a round of consultations between the company and its customers.
Details of the possible change in crude prices are still unclear, while Sumo could not be reached for comment.
Prices will rise by about 2 million barrels of crude per day or nearly two-thirds of Iraqi crude exports from the southern port of Basra, where an oil trader in Singapore pointed out that "Iraq probably wants to have a gauge ore," referring to the role of Saudi Arabia in determining Prices in the area.
According to analysts, the proposed change represents a major shift from OPEC's second-largest producer, Iraq, to the norm he and other members of the Organization such as Saudi Arabia, Kuwait and Iran have used for decades on the basis of the ratings of Standard & Poor's Global Plats In the pricing of their raw materials.
Since April, Iraq has started selling one or two Basra crude per month through an auction platform on the Dubai Mercantile Exchange as a way to explore the price.
Saudi Arabia, the world's largest exporter of crude, sets the price trend for Iranian, Kuwaiti and Iraqi feedstock, affecting more than 12 million barrels of crude destined for Asia per day.
SOURCE
The Central Bank publishes a gold bullion schedule for the current week
The Central Bank of Iraq (CBE) on Monday published a table at the prices of gold bullion for the current week while raising its prices compared to last week, with the exception of the table of gold coins.
The table indicated that the price of the 5-gram alloy amounted to 258 thousand dinars, an increase of seven thousand dinars dinars, while the price of a 10-gram barrel 509 thousand dinars and an increase of four thousand dinars, indicating that the price of an alloy of 15 grams was 760 thousand dinars, Dinar.
The table showed that the price of a 25-gram alloy reached 1.295 million dinars and an increase of 10 thousand dinars, while the price of alloy 50 g 2.593 million dinars and a decrease of 19 thousand dinars.
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