Shafaq News / Basra's heavy and intermidiate crude oil prices surged despite a global decline in oil prices. The price of Basra Heavy crude rose by 3.37 dollars to reach 79.63 dollars, while Basra intermidiate crude prices also increased by 3.37 dollars to reach 82.68 dollars.
Global oil prices experienced a decrease, contradicting their upward trend from the previous day. Concerns over weakening demand amid the global economic slowdown outweighed the possibility of increased supply cuts by the Organization of the Petroleum Exporting Countries (OPEC), including allies like Russia.