Basra: The prices of Basra Heavy and Medium crude oil fell during daily trading on the global market.

According to National Iraqi News Agency, Basra Medium crude oil recorded $63.37 per barrel, while Heavy crude oil recorded $60.37 per barrel, marking a decrease of approximately 2%. This decline occurred despite a global trend of rising oil prices.

Oil prices increased by more than $1 per barrel in early Asian trading, following the decision by the OPEC+ group to boost production in July by the same amount it increased in each of the previous two months. This rise in global oil prices did not prevent the decline in Basra crude oil prices.