Shafaq News/ The Iraqi Oil Ministry decided, on Monday, to raise the price of Basra Medium, exported to Asia, for next January.
The Ministry stated that the Oil Marketing Company "SOMO" raised the average price of Basra oil by 10 cents for buyers in Asia for January, at a premium of $1.40 over the average of Dubai and Oman crudes.
It also raised the prices of Basra Heavy to Asian buyers by 60 cents, 1.75 dollars lower than the Dubai-Oman average.
Meanwhile, Basra Medium exported to the United States was also raised for January by 95 cents, $1.85 less than the average Argus crude.
Basra Heavy, exported to the United States, was also raised by 30 cents, at a discount of $3.60 on the standard Argos crude.
According to the SOMO, Kirkuk crude exported to the United States rose by 40 cents, at a premium of 1.40 dollars over the average standard of Argos crude.
Basra Medium exported to Europe for January was raised by 55 cents at a discount of 5.15 dollars over the average North Sea "Brent" crude, while Basra Heavy crude increased by 60 cents at a discount of 7.60 dollars from the price of Brent
the price of Kirkuk crude exported to Europe was reduced by 45 cents, $0.45 off the average price of Brent.