Indian Oil Buys Iraq Oil at Discount to October Dubai Benchmark

India's largest refiner, Indian Oil Corp. bought 2 million barrels of Basrah Medium and Basrah Heavy crude at a discount of about US$28 per barrel to the October Dubai benchmark on a free-on-board basis, two trade sources said on Monday.

The Indian state refiner has bought oil from trader Mercuria, the sources said.  IOC was seeking Iraqi oil for October 21 to 31 lifting through a tender. Companies do not typically comment on tender-related information.