Iraq to Ship New Crude Grade in May After Setting Discounts
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Iraq, OPEC’s second-biggest producer, will start exporting Basrah Heavy crude next month after offering discounts for the new grade in Europe, Asia and the Americas.
The heavy grade “will help us to preserve our oil qualities” and increase “output chances,” Iraq’s Oil Minister Adel Abdul Mahdi said on his Facebook page. Shipments will represent a “big achievement,” he said.