Iraqi Oil Prices Experience Marginal Increase in Global Markets
On March 1, 2025, Iraqi oil prices saw a modest uptick during weekend trading in international markets. Specifically, Basra Crude was priced at $75.20 per barrel, while the overall average reached $72.15 per barrel, reflecting a change of +0.88 for deliveries scheduled in May 2025.
In contrasting trends, global crude oil prices experienced a slight decline. Brent crude was recorded at $73.18 per barrel, and West Texas Intermediate (WTI) from the U.S. Midwest was priced at $69.67 per barrel, both showing a decrease of -0.86.
| Crude Type | Price per Barrel | Change |
|---|---|---|
| Basra Crude | $75.20 | +0.88 |
| Average Iraqi Crude | $72.15 | +0.88 |
| Brent Crude | $73.18 | -0.86 |
| West Texas Intermediate | $69.67 | -0.86 |
These fluctuations in oil prices highlight the ongoing dynamics of the global energy market and their implications for Iraq’s economic framework.
