Quantum Commodity Intelligence – Iraq’s state oil marketing organization slashed official selling prices for Asia in October while also cutting premiums for Dated Brent to Europe, according to a document sent to customers.

SOMO put the OSP for Basrah Medium, its main export grade, to Asia at +$1.40/b at Platts Dubai/Oman, compared to +$5.10/b for September, while Basrah Heavy to Asia of +$0.50 was lowered to -$2.50/b. b.

The reductions broadly followed the direction of the OSP cuts Saudi…

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