Iraq cuts Basrah Medium crude rate to $1.30 discount for Asia amid ongoing oversupply concerns in oil market

Jan 11, 2026 - 06:15
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Iraq cuts Basrah Medium crude rate to $1.30 discount for Asia amid ongoing oversupply concerns in oil market
Iraq has reduced Basrah Medium crude prices for Asia to $1.30 per barrel for February, following Saudi Arabia's price cut. Iraq maintains Basrah Heavy at a $3.60 discount. 

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