November Basrah Heavy cargo sold at OSP +$1.28 on DME auction
November Basrah Heavy cargo sold at OSP +$1.28 on DME auction
Dubai - Arab Today
Dubai Mercantile Exchange hosted its latest auction on Tuesday, on behalf of Iraq’s National Oil Company, SOMO.
The 2-million barrel cargo of Basrah Heavy was awarded at a premium of $1.28 per barrel over the November Basrah Heavy Official Selling Price (OSP).
21 companies have participated in the auction with 43 bids received during the two-minute auction.
SOMO has sold a total of 12 million barrels of crude oil via DME Auctions since April of this year. In August, a Basrah Heavy cargo for October loading was auctioned at a premium of $1.63 per barrel over the October Basrah Heavy Official Selling Price (OSP).
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