Shafaq News / According to the monthly report by the Organization of the Petroleum Exporting Countries (OPEC), the average price of Basra crude oil decreased by $6.39 during the month of November.
OPEC stated that "the average price of Basra crude during November was $83.80, indicating a decline from $90.19 in October."
Moreover, the report highlighted that the average prices of Basra crude decreased by $7.76, or 9.1%, from August to September.
"The average price of Basra crude oil for the previous year, 2022, stood at $105.66", it added.
Iraq exports crude oil predominantly to Asia, accounting for approximately 60% of its exports, followed by around 25% to Europe and 15% to the United States.