Shafaq News/ The Organization of the Petroleum Exporting Countries(OPEC) announced on Thursday that Basrah crude oil prices fell in globalmarkets during August.
In its monthly report, OPEC stated that "the price of Basrah Mediumcrude reached $77.43 per barrel in August, a decrease of $6.10, or 7.3%,compared to $83.53 in July."
The report added that Basrah crude has averaged $81.41 per barrel so farthis year, compared to an average of $77.90 in 2023.
Iraq exports 60% of its crude oil to Asia, 25% to Europe, and around 15%to the United States.