OPEC reports decline in Basrah Crude prices in September
2024-10-15T10:39:27+00:00
Shafaq News/ The Organization of the Petroleum Exporting Countries (OPEC) announced on Tuesday that Basrah crude oil prices fell in global markets during September.
In its monthly report, OPEC stated that "the price of Basrah Medium crude reached $72.31 per barrel in September, a decrease of $5. 12 or 6.6%, compared to $77.43 in August."
The report added that Basrah crude has averaged $80.42 per barrel so far in 2024, compared to an average of $79.56 in 2023.
Iraq, OPEC's second-largest producer, relies on oil exports for more than 92% of its state budget, exporting 60% of its crude oil to Asia, 25% to Europe, and15%totheUS.
