Shafaq News/ The price of Basra's heavy crude fell on a weekly basis with more than a 2.29% loss.
Basra's heavy crude to Asian customers closed at $76.64, posting a weekly loss of $1.72.
The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day.