Iraq Sets November Basrah Medium Crude OSP at $2.80 Discount to Oman/Dubai

The OSP spread is the signal Asian refiners actually price off, so a set discount to Oman/Dubai effectively anchors the relative value of Iraqi barrels versus the Gulf benchmark for the month. It matters most to Asian buyers weighing Basrah Medium against competing medium-sour grades, and to other Gulf sellers setting their own differentials. Whether that $2.80 level holds or shifts in subsequent monthly OSPs is the open question.