Iraq has cut the official selling prices of its Basra Light crude oil for May to all customers, and raised the price of Kirkuk crude to buyers in the U.S. and cut it for customers in Europe , the State Oil Marketing Organization said Monday.

Basra Light Crude for delivery to European buyers in May was cut by $1.90 a barrel to $6.50 a barrel below Dated Brent, SOMO said in a statement.

Basra Light Crude for U.S. customers was cut by $0.30 a barrel to $1.95 a barrel below the Argus Sour Crude Index, or ASCI, it said.

Basra Light crude May price for delivery to Asian buyers was cut by $0.45 a barrel to $0.15 a barrel below Oman/Dubai quotes, from $0.30 a barrel above Oman/Dubai in April, it said.

Kirkuk crude destined to the U.S. in May was set at $0.40 a barrel above ASCI, while for European customers it was set at $4.00 a barrel above Dated Brent, it said.
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