Basra crude oil prices surge over 4% on recovery of Chinese demand
2023-03-23T07:30:02+00:00
Shafaq News- On Thursday, the prices of Basra heavy and light crude oil increased by more than 4% due to the recovery of the Chinese market and a decline in the dollar's value.
Basra heavy crude, exported to Asia, rose by 4.59% or $3.08 to reach $70.21 per barrel.
Basra medium crude exported to Asia increased by 4.34% or $3.08 to earn $73.99 per barrel.
This rise in oil prices has been observed over the past three days, thanks to the recovery of Chinese demand, OPEC+'s commitment to production cuts, and the decline in the dollar's value.
