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Iraqi Oil Weekly Summary: Basra Heavy Crude Hits $74.98 Amid Global Price Shifts

Baghdad, Iraq

Iraqi oil prices concluded their weekly trading activity on Saturday, February 1, 2025, in the global market.

According to the latest data, Basra Heavy Crude was priced at $74.98 per barrel, with an average of $78.23 per barrel, reflecting a change of 0.44+. This pricing pertains to the March 2025 delivery.

Additionally, the data indicated a slight downturn in global crude prices. Brent crude was recorded at $76.76 per barrel, while the US West Texas Intermediate (WTI) crude stood at $72.53 per barrel, both exhibiting a decline of 0.20-.

Crude Type Price per Barrel Change
Basra Heavy Crude $74.98 0.44+
Average Crude Price $78.23
Brent Crude $76.76 0.20-
US WTI Crude $72.53 0.20-

These developments reflect the ongoing volatility in the global oil market, highlighting the economic dynamics that affect Iraq’s oil revenue.

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