Basrah Medium crude among top OPEC gainers in May
Shafaq News- Baghdad
Iraq's Basrah Medium crude climbed $11.83 per barrel in May, reaching $120.22, up from $108.39 in April, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).
The grade ranked among the sharpest monthly gainers in the OPEC reference basket, grouped alongside Arab Light, Iran Heavy, and Kuwait Export, which collectively averaged a gain of $12.49 per barrel to reach $119.09 in May.
The year-to-date average for Basrah Medium stood at $95.34 per barrel, against a full-year average of $71.82 in 2025.
The OPEC Reference Basket (ORB) also rose in May, averaging $114.55 per barrel, up $5.49 from $109.06 in April.
Not all crudes followed the upward trend. Algeria's Saharan Blend shed $24.40 per barrel, North Sea Dated fell $13.60, and Russia's Urals lost $11.54 over the same period.
OPEC attributed the divergence to global market volatility, supply-side pressures, uncertainty over Middle East oil flows, and weaker demand in Asia and Europe.
