Iraq is offering deep discounts on crude oil to its regular customers due to the blockade of the Strait of Hormuz.
Modern.az reports that Bloomberg agency spread information about this, citing a document from Iraq's state marketing company SOMO.
According to the offer presented on May 3, the discount on “Basrah Medium”, the country's main oil brand, reaches up to $33.40 per barrel.
It was stated that if buyers agree to these terms, the “force majeure” clause will not be in effect. The company justified this by stating that the risks associated with passing through the conflict zone in the Strait of Hormuz are “known to all parties in advance.”
