IRAQ GETS SERIOUS ON OIL CUTS BY ASKING BUYERS TO FORGO CARGOES…LIVE NEWS UPDATE BY ROYAL TRADERS

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Iraq has asked some Asia refiners to consider forgoing prompt shipments of its Basrah crude, raising speculation that OPEC’s second-biggest producer is trying to comply with pledged output cuts.

State-owned marketer SOMO sent requests to several customers asking if they would consider not taking some contracted cargoes for June and July loading, said people with knowledge of the matter. At least one buyer was unwilling to forgo shipments citing downstream commitments, while another will likely agree and seek replacement cargoes in the spot market, the people said.


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