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Iraq sells Basra light crude loading June at a lower premium
Economy News _ Baghdad
Iraq sold 1 million barrels of Basrah Light crude for June 29-30 at a premium of 20-30 cents per barrel (bpd) from the official Asian crude sale price to UNIPEC, two trade sources said on Wednesday.
The sources added that the Iraqi oil marketing company (Sumo) reduced the size of the shipment offered in the tender by half before closing it.
The premium is much lower than the previous deal of 77 cents per barrel.
"There seems to have been no buyers," one source said.
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