Basrah Crude falls ahead of key OPEC+ meeting
2025-05-03T05:34:34+00:00
Shafaq News/ Basrah crude oil prices slipped on Saturday, tracking a broader decline in global oil markets.
Basrah Heavy crude fell 7.12% to $59.92 per barrel, while Basrah Medium dropped 7.87% to $63.07.
Oil prices broadly fell about 1% on Friday, capping their worst weekly performance since late March. Brent and US West Texas Intermediate (WTI) futures both posted weekly losses exceeding 8.6%, with WTI on track for a decline of nearly 8%.
Traders grew increasingly cautious ahead of a key OPEC+ meeting
scheduled for June, where the producer group is expected to review its output
policy amid signs of weakening demand and rising inventories.
