Iraq’s Basrah Medium: 5th priciest OPEC crude in February 2025
Shafaq News / Iraq ranked fifth among the most expensive Arab crude oils within OPEC in February 2025, the Organization of the Petroleum Exporting Countries (OPEC) reported.
In its monthly report, OPEC stated that Iraq’s Basrah Medium average price stood at $75.73 per barrel, compared to an average of $77.98 per barrel in January 2025.
The report also noted that Saudi Arabia’s Arab Light crude topped the list at $78.59 per barrel, followed by Kuwait’s crude at $78.16. The UAE’s Murban crude ranked third at $77.62, while Algeria’s Saharan Blend stood fourth at $76.06.
Additionally, Libya’s Es Sider crude came in sixth, averaging $73.96 per barrel.
The average price of Arab crude oils in February 2025 fell to $76.68 per barrel, down from $79.56 in January, the report indicated.
Notably, Iraq exports 60% of its crude oil to Asia, 25% to Europe, and 15% to the US.
