Iraq offers significant discounts on crude oil shipments
pre-market1 source ↓written by the desknot a recommendation
OPEC's second-largest producer, Iraq, is offering discounts up to $33.40 per barrel for crude oil moving through the Strait of Hormuz. This follows severe disruptions in oil production and exports due to ongoing hostilities in the region. The closure of the Strait has significantly impacted Iraq's ability to export its Basrah crude grades, leading to a shift in shipping routes and methods.
Not investment advice. For informational purposes only.