Latest SOMO Crude Auctions Fetch Premiums Of +$0.11 And +$0.18 Above OSP: Dubai Mercantile Exchange Auctions

Iraq’s National Oil Company SOMO Wednesday sold two more cargoes of Basrah crude oil via DME Auctions, again achieving premiums above the SOMO Official Selling Price (OSP) for November.

The first cargo auctioned Wednesday was 1 million barrels of Basrah Heavy loading November 16-18, which was sold at November OSP +$0.11 per barrel. This was followed by 1 million barrels of Basrah Light, also loading November 16-18, which went for a premium of +$0.18/b above November OSP

SOMO has auctioned a total of 4 million barrels of crude via DME Auctions this week, including 2 million barrels of Basrah Heavy of Monday, which achieved OSP +$0.20/b