When Iraq introduced Basrah Medium into its portfolio of crude grades, it was believed that a stricter delineation of qualities could finally put an end to Baghdad’s perennial challenge of maintaining quality parameters. As it seems, however, that optimism has fizzled out completely by now. According to several media reports, the Iraqi state oil marketer SOMO would discontinue the practice of setting official formula prices for Basrah Light, up to now arguably the most prominent crude stream coming out of Iraq.
Basrah Light might not have…Iraq Cuts Its Once-Popular Basrah Light Crude Oil Blend
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