UPDATE 1-Iraq cuts May OSP crude prices for all buyers

(Adds table)

BAGHDAD, April 12 (Reuters) - Iraq will cut its May official selling price for its Basra Light and Kirkuk crude to buyers worldwide, a senior Iraqi oil official said on Sunday.

Iraq cut the price of Basra crude for U.S. buyers from the April price by $6.20, bringing it to a discount of $4.90 a barrel below the second-month futures contract for U.S. crude benchmark WTI, said Falah Alamri, head of the State Oil Marketing Company (SOMO).

The price of Basra crude for European buyers was cut 10 cents to a discount of $1.15 below the North Sea spot crude marker, known as BFOE, Alamri said.

The price for Asian buyers fell 65 cents to a discount of 50 cents below the average of Oman/Dubai quotes, he said.

For U.S. buyers of the heavier Kirkuk crude, exported from the Turkish Mediterranean terminal of Ceyhan, Iraq cut the May price by $5.80 from April to a discount of $3.95 below first-month WTI. To European buyers, Iraq cut the price by 25 cents to BFOE minus $1.10.

Below is a table containing prices for April and May. All prices are listed in dollars below or above the benchmark.

Basra Light: May '09 April '09