Platts publishes outright value of Iraq's Basrah Medium Asia OSP to three decimal points from July 3, 2023

Platts, a part of S&P Global Commodity Insights, has started publishing the outright value of Iraq's Basrah Medium Asia crude oil official selling price to three decimal points from July 3, 2023.

Platts previously published the outright value of the grade's OSP to two decimal points. The outright value of the grade's OSPs is calculated by adding its OSP differential, as issued by Iraq's SOMO, to the corresponding monthly average of the OSP benchmark, which is Platts Dubai and Platts Oman.

Platts first announced the change in a subscriber note published May 19: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/051923-platts-to-publish-outright-value-of-iraqs-basrah-medium-asia-osp-to-three-decimal-points-from-july-3-2023.

From July 3, the outright OSP of Basrah Medium Asia is published to three decimal points under the existing symbol BSMAD00. The Basrah Medium Asia outright OSP is published alongside the existing OSPs of SOMO's other crude oil grades on Platts Global Alert page 1059.

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