Shafaq News/ Iraq ranked fifth among the most expensive Arab crude oils within OPEC inFebruary 2025, the Organization of the Petroleum Exporting Countries (OPEC)reported.
In itsmonthly 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 reportalso noted that Saudi Arabia’s Arab Light crude topped the list at $78.59 perbarrel, followed by Kuwait’s crude at $78.16. The UAE’s Murban crude rankedthird 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 averageprice 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.
