Iraq Raises September Crude Oil Official Selling Prices for Asian Buyers
State-owned SOMO has adjusted its official selling prices upward for crude shipments heading to Asia in September.
Iraq has increased its official selling prices (OSPs) for crude oil grades bound for Asian buyers for the month of September, according to pricing data released by the state marketer. The upward adjustments reflect shifting supply and demand dynamics across major Asian refining hubs.
State-owned Oil Marketing Company (SOMO) sets official selling prices monthly, benchmarking grades such as Basrah Medium against regional indices like Oman and Dubai quotes. The revised September pricing structure applies to term contracts for refiners across Asia, Iraq's primary export destination.
David reports on energy, metals and agricultural markets, tracking how supply signals and safe-haven demand move prices across the commodities complex.
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