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Iraq Ranks Sixth in OPEC’s 2024 Arab Oil Price List, Averaging $78.37 per Barrel

Iraq’s Oil Pricing in 2024: A Regional Analysis

In OPEC’s assessment for 2024, Iraq is positioned sixth in terms of the cost of Arab crude oil, with an average barrel price set at $78.37.

The Algerian desert mix leads the rankings, commanding an average price of $81.73 per barrel, followed closely by Saudi light Arab crude at $81.49 per barrel.

Notably, OPEC’s reports indicate that the overall average prices of Arab oil materials for 2024 have declined to $79.89 per barrel, down from $82.95 per barrel in 2023.

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