Shafaq News/ Iraq’s Basrah Medium crude prices declined by 2.5% in March, the Organization of the Petroleum Exporting Countries (OPEC) reported.
In its monthly report, OPEC stated that Basrah Medium has averaged $73.82 per barrel, down $1.91 from February’s $75.73.
Despite the monthly dip, the average price for 2025 stands at $85.88 per barrel, up from $79.83 during the same period last year.
Notably, Iraq exports approximately 65% of its crude oil to Asia, 20% to Europe, and 15% to the US.