OPEC: Basra crude up $6 in June
2025-07-16 15:53
Shafaq News – Washington/Baghdad
Basra Medium crude prices jumped more than $6 per barrel in June, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).
OPEC reported that Iraq’s flagship grade averaged $69.24 per barrel last month, up from $63.23 in May. However, the first-half 2025 average still lagged behind at $71.39—down from $81.71 over the same period in 2024.
The report also showed OPEC’s overall oil basket climbing to $68.90 in June, compared to $63.62 the previous month.
Meanwhile, Iraq continues to play a central role in global supply, exporting around 65% of its crude to Asia, 25% to Europe, and 10% to the United States.
