Basra crudes drop over 2% on Tuesday
2023-08-15T11:39:03+00:00
Shafaq News / Oil prices for heavy and intermediate Basra crude experienced a decline of more than 2% on Tuesday.
The price of heavy Basra crude dropped by $2.04 or equivalent to 2.37%, reaching $84.18 per barrel. Meanwhile, the price of intermediate Basra crude decreased by $2.04 or equivalent to 2.28%, reaching $87.48 per barrel.
Oil prices have been fluctuating due to supply constraints resulting from OPEC's production cuts, which are juxtaposed against sluggish growth in China, the world's second-largest oil consumer.
