Shafaq News, citing Reuters and a marketing document reviewed by that agency, reported discounts of $34.50 a barrel for Basrah Medium and $37 for Basrah Heavy for October-loading crude. The reported offers were on a free-on-board basis from Iraqi southern loading facilities.
The figures are discounts against benchmarks in destination markets, not outright selling prices. Shafaq’s account connects the wider discounts with shipping costs and the risks of loading cargoes inside the Strait of Hormuz. The underlying pricing document was not independently obtained by Iraq Business Desk.
Analysis — A recovery in export volumes need not produce an equivalent recovery in receipts if the price received per barrel falls. The relevant comparison is between actual shipment volumes and realised Iraqi selling prices. A global oil benchmark alone cannot measure that change, and these reported offers do not establish the average discount on every Iraqi cargo.