Shafaq News- Basrah

Iraqi Basrah crude prices fell in April, dropping about 9% from the previous month, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).

Basrah Medium averaged $108.39 per barrel in April 2026, down from $117.62 in March, marking a decrease of $9.23 per barrel over the month.

Even with the monthly decline, Iraqi crude maintained a stronger yearly performance. The average price of Basrah crude since the start of 2026 reached $89.12 per barrel, compared with $74.07 in the same period of 2025.

OPEC reference basket also moved lower in April, averaging $108.79 per barrel versus $116.36 in March, a decrease of $7.57 per barrel.