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Market Chatter: Iraq Seeks Buyers for 2 Million Barrels of Basrah Heavy Crude

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Iraq is seeking buyers for 2 million barrels of Basrah Heavy crude to be sold via a ship-to-ship transfer off Oman's coast, outside the Strait of Hormuz, Reuters reported Wednesday, citing a tender document.

The second-largest oil producer in the Organization of the Petroleum Exporting Countries is offering the 2 million barrel cargo on a free-on-board for loading basis between September 27-30. The tender is valid till Thursday, the report said.

Iraq's State Organization for Marketing of Oil or SOMO is seeking bids based on relevant pricing benchmarks, the report said.

has reached out to Iraq's Ministry of Oil and SOMO for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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$SHEL