Basrah Medium Crude Fell $6.73 in July, the Fourth Largest Monthly Decline Among OPEC Crudes

According to a new OPEC report carried by Shafaq News on Thursday, August 13, 2026 (22 Mordad 1405), Iraq's Basrah Medium crude fell $6.73 per barrel in July from June to average $78.37, the fourth largest monthly decline among crudes in OPEC's reference basket, after Kuwait Export crude, down $10.26, Arab Light, down $9.01, and Iran Heavy, down $8.70. Basrah Medium averaged $91.24 a barrel over the first seven months of 2026, about 28 percent above last year's average of $71.27. OPEC's Reference Basket fell $6.76 in July to $82.99 a barrel; its average for the first seven months of this year stands at $92.04, compared with $71.88 in 2025.