Basrah Medium posts $6.73 July loss
2026-08-13T13:12:47+00:00
Shafaq News- Baghdad
Iraq’s Basrah Medium crude fell $6.73 per barrel in July to average $78.37, marking the fourth-largest monthly decline among the Organization of the Petroleum Exporting Countries (OPEC) basket crudes, according to the organization’s latest report.
The Iraqi grade slipped from $85.10 in June but averaged $91.24 during the first seven months of 2026, about 28% above its $71.27 average last year.
Kuwait Export posted the steepest monthly loss of $10.26 per barrel, followed by Arab Light at $9.01 and Iran Heavy at $8.70.
OPEC’s Reference Basket shed $6.76 to $82.99 per barrel in July, from $89.75 a month earlier. Its January-July average reached $92.04, compared with $71.88 in 2025.
