To counter the “shipping halt,” Iraq is offering oil discounts of up to $33 per barrel.
Iraq has decided to lower oil prices for buyers who choose to pass through the Strait of Hormuz, coinciding with escalating tensions and continued disruption to energy supply chains to the global market.
Bloomberg reported that Iraq is offering discounts on official oil prices of up to $33.40 per barrel for Basra crude.
This comes according to a notice issued by the state oil marketing company SOMO on May 3, detailing price levels during different periods of this month.
Shafaq.com