Basra crude oil prices climb amidst global market rebound
2023-10-05T09:40:11+00:00
Shafaq News/ On Thursday, Basra crude oil prices experienced an uptick, following the global trend of rising oil prices.
Basra Heavy crude prices increased by $0.29, reaching $86.53, while Basra Intermediate crude prices also surged by $0.29, reaching $89.58.
This price surge mirrored the recovery in global oil prices, compensating for some of the significant losses incurred during the previous session. The rebound came after the OPEC Joint Ministerial Monitoring Committee decided to maintain oil production cuts, which contributed to an ongoing shortage of supplies in the market, heightening concerns about a potential decline in global economic growth.
