OPEC reports decline in Basrah Crude prices in August
2024-09-19T11:00:02+00:00
Shafaq News/ The Organization of the Petroleum Exporting Countries (OPEC) announced on Thursday that Basrah crude oil prices fell in global markets during August.
In its monthly report, OPEC stated that "the price of Basrah Medium crude reached $77.43 per barrel in August, a decrease of $6.10, or 7.3%, compared to $83.53 in July."
The report added that Basrah crude has averaged $81.41 per barrel so far this year, compared to an average of $77.90 in 2023.
Iraq exports 60% of its crude oil to Asia, 25% to Europe, and around 15% to the United States.
