Shafaq News / The prices of Basra's heavy and intermediate crude oil increased on Tuesday, surpassing one dollar per barrel, in tandem with the global rise in oil prices.

The price of Basra's heavy crude oil rose by $1.61, reaching $91.77 per barrel, while Basra's intermediate crude oil prices increased by $1.61, reaching $94.66 per barrel.

The surge in oil prices comes amid a shortage in supply, as Saudi Arabia announced the continuation of its production cut by one million barrels, in addition to the planned reduction by OPEC for its member countries.