By John Lee.
The top of the State Oil Advertising Group (SOMO) has reportedly prompt that Iraq is interested by creating an oil worth hedging program that might lock in costs for future trades far prematurely.
Falah Al Amri is quoted as saying:
“We is not going to rush. This can be a lengthy course of … We should make sure that we don’t lose cash. You understand the Iraqi parliament, it might not settle for that.
“Remodeling SOMO is unstoppable. It is going to do extra than simply market Iraqi crude.”
(Sources: Bloomberg, OilPrice)