Increase in Basra Crude Prices: January Highlights
In January, Basra crude oil prices experienced a notable uptick, as reported by OPEC. The price of Mediterranean crude oil reached $77.98 per barrel, reflecting an increase of $6.11 or 8.5% when compared to December’s average of $71.87.
OPEC’s monthly analysis indicated that throughout the year 2025, the price for Basra Mediterranean crude maintained a rate of $77.98. In contrast, the price for the same period in 2024 stood slightly higher at $78.21.
Export Distribution
Iraq’s crude oil export strategy showcases a diverse market focus, with 60% directed towards Asia, 25% to Europe, and 15% to the Americas. This distribution highlights Iraq’s strategic engagement in global energy markets, emphasizing its pivotal role as a key oil supplier.
This data underscores the ongoing trends in oil pricing and distribution, reflecting both the regional demand dynamics and the implications for Iraq’s economic performance within the broader context of OPEC’s regulatory framework.
