Basra: Basra Medium crude oil prices rose during September.

According to National Iraqi News Agency, OPEC stated in its monthly report for October that "the average price of Basra Medium crude oil reached $70.40 during September, an increase of 80 cents compared to $69.60 in August."

The organization explained that Basra Medium crude oil averaged $70.99 during the nine months of 2025, while it averaged $80.42 during the same period in 2024. OPEC reported that the average price of Basra Medium crude oil was the third highest among OPEC crude oil producers. Saudi Arabia's Arab Light crude ranked first at $72.62, followed by the UAE's Murban crude at $72.16.

Iraq exports 70% of its crude oil to Asia, about 20% to Europe, and 10% to the United States.