Middle Eastern producers hiked oil prices for March as global inventories tighten and the disparity between OPEC’s self-reported production and third-party assessments widens
Iraq’s State Oil Marketing Organization may sell some spot cargoes of Basrah Light this year if the deepwater Khor al-Amaya terminal is re-opened and domestic refiners’ needs have been met, the marketer’s deputy director general told S&P Global Platts on Jan. 20. SOMO excluded Basrah Light, previously its main stream until the creation of Basrah .
Asian refiners were disappointed once again by Middle Eastern official selling prices, with a lower-than-expected reduction likely to drive the refiners to the spot market
Iraq’s oil exports, including volumes from the semi-autonomous Kurdistan region, rose 0.5% in December, despite an increase in its OPEC+ quota, according to oil ministry data and local shipping agents’ reports from Turkey’s Ceyhan terminal seen by S&P Global Platts. Total oil exports in OPEC’s second-biggest producer rose to 3.677 million b/d in December, from .
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