Basra crude oil Prices climb in tandem with global oil market
2023-09-13T10:23:08+00:00
Shafaq News/ On Wednesday, Basra Heavy and Intermediate crude oil prices edged higher, with the upward trajectory of global oil prices.
Basra Heavy crude oil prices registered an increase of 54 cents, equivalent to 0.61%, reaching $88.79. Simultaneously, Basra Intermediate crude oil prices climbed by 54 cents, or 0.59%, reaching $91.74.
Global oil prices have risen due to supply constraints, further accentuated by Saudi Arabia's announcement of its intention to continue reducing production by one million barrels. This reduction in output complements the previously scheduled production cuts by OPEC member countries.
