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Iraq is struggling to find buyers for all its 2013 oil output on term contracts, industry sources said, as foreign refiners complain of high prices and variable quality from the world's fastest growing crude exporter. Tough contract negotiations between Iraq's State Oil Marketing Organization (SOMO) and buyers in Asia, Europe and the United States are underlining [...]

Iraq struggles to sign buyers for 2013 crude

Alex Lawler and Florence Tan report for Reuters:

Iraq is struggling to find buyers for all its 2013 oil output on term contracts, industry sources said, as foreign refiners complain of high prices and variable quality from the world's fastest growing crude exporter.

Tough contract negotiations between Iraq's State Oil Marketing Organization (SOMO) and buyers in Asia, Europe and the United States are underlining how well the global market is supplied, despite diving exports from neighbouring Iran.

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