Iraq’s state oil marketer offered last‑minute Basra medium and heavy crude cargoes at discounted prices in a recent tender to attract buyers, sources said. High freight costs and Iraq’s greater distance from the Strait of Hormuz complicate purchases from the deep Gulf, prompting reliance on trading companies to market and ship cargoes and the use of significant discounts to incentivize purchases.

2026-09-25

Iraq’s state oil marketer offered last‑minute Basra medium and heavy crude cargoes at discounted prices in a recent tender to attract buyers, sources said. High freight costs and Iraq’s greater distance from the Strait of Hormuz complicate purchases from the deep Gulf, prompting reliance on trading companies to market and ship cargoes and the use of significant discounts to incentivize purchases.