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وكالة صدى نيوز
Iraq struggles to sell oil after discount cuts
Iraq faced difficulties in selling its oil during September 2026 after sharply raising its barrel prices, as State Oil Marketing Organization (SOMO) reduced discounts on Basra medium and heavy crude by between $9 and $10 per barrel compared to August. At the same time, discounts of $15 to $18 per barrel were offered relative to the reference price. This increase in prices reduced the attractiveness of Iraqi oil shipments, especially amid rising shipping costs and ongoing challenges passing through the Strait of Hormuz. These issues threaten the country's oil flows and make it harder to attract buyers in global markets.
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