Iraq narrowed the discount for April crude deliveries to Asian buyers by the most since November 2011, joining other Middle East producers in raising official selling prices amid signs demand is improving. Iraq, OPEC’s second-biggest producer, will sell its Basrah Light crude at $2.80 a barrel below Middle East benchmark Oman and Dubai grades in April, the state-run Oil Marketing Co., known as SOMO, said Monday. That’s $1.30 less than the discount for March. Saudi Arabia last week increased the pricing terms for Arab Light sold to Asia, while Abu Dhabi and Qatar raised export prices. Saudi Arabia led a November decision by the Organization of Petroleum Exporting Countries to maintain output and defend market share against rising U.S. output that sent crude prices almost 50 percent lower in 2014. The imbalance in the global crude market will even out in the second half of this year, […]