OPEC: Iraq's Basrah oil price up 8.5% in January
2025-02-15T07:47:33+00:00
Shafaq News/ Iraq’s Basrah Medium crude oil prices increased in January, the Organization of the Petroleum Exporting Countries (OPEC) reported.
In its monthly report, OPEC stated that “Basrah Medium average price stood at $77.98 per barrel in January, up from $71.87 in December, marking a $6.11 or 8.5% rise.”
The report also noted that Iraq’s Basrah average in 2025 is slightly below the $78.21 average for the same period in 2024.
Notably, Iraq, OPEC’s second-largest producer, exports about 60% of its crude to Asia, 25% to Europe, and 15% to the United States.
