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Iraq Increasing Oil Prices


KrispyKreme
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New Iraqi Oil Prices for October

Posted on 12 September 2011. Tags: oil price, oil prices, SOMO, State Oil Marketing Organization

Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for October.

In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices:

◦For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI);

Iraq is selling exporting and signing contracts like crazy.

How if there currency is worthless.

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