SOMO sells more Basra oil via DME

Iraq’s SOMO sold a further 2 million barrels of Basra crude for loading in mid-November via auctions on the Dubai Mercantile Exchange (DME) yesterday, three industry sources said.

SOMO has sold 1 million barrels of Basra Heavy for loading November 16-18 at 11 cents a barrel above its official selling price.

It also sold 1 million barrels of Basra Light loading on the same dates at 18 cents a barrel above its OSP.