Demand Increases for both Basrah Light and Basrah Heavy

By John Lee.

The head of the State Oil Marketing Organisation (SOMO) said on Tuesday that Iraq is seeing increasing demand for its Basrah Light and Basrah Heavy crudes oil grades.

Falah Alamri told Reuters:

"There is a lot of demand in summer, more consumption now than the beginning of the year."

He added that splitting the Basra grade into Heavy and Light had been very succcessful as it increased output, and noted that the return of Iranian oil to the market had been less than expected.

(Source: Reuters)