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Product Name: Basra Light Crude Oil Origin: Iraq API Gravity: ~30-31 Sulfur Content: ~2.87% Delivery Terms: FOB Basra, Iraq Quality Assurance: SGS or equivalent certification Product Overview Basra Light Crude Oil is one of Iraq's premium crude oil grades, known for its moderate API gravity and relatively high sulfur content. It is a sought-after crude oil for refineries that specialize in processing heavier grades into diesel, gasoline, jet fuel, and petrochemical feedstocks. Key Characteristics: Moderate API gravity (~30-31), making it a balanced crude for refining operations Higher sulfur content (~2.87%), typically requiring desulfurization but yielding valuable middle distillates Ideal for refining into diesel, gasoline, and jet fuel Stable and consistent supply via Iraq's major oil terminals Important Note: Iraq's Crude Oil Sales Process Unlike many global markets, Iraq operates differently in crude oil sales, particularly through SOMO (State Organization for Marketing of Oil). This means: * Only qualified buyers and refineries can engage in direct purchases. * Strict registration, compliance, and financial verification processes are required. * Transactions involve long-term contracts or structured agreements with SOMO. If you are interested in securing Basra Light Crude Oil, please contact us for more. Our team will guide you through the proper procedures to ensure compliance with Iraq's regulatory framework for crude oil sales.
Market check · updated 5 Nov 2026
In Oct 2026, Crude oil, Brent averaged US$125 per barrel, up 93.2% on a year earlier. The world price is a reference grade; ask the seller for a firm quote for this product.
World reference · Crude oil, Brent, Oct 2026
US$125 / barrel
+93.2% vs Oct 2025
| Crude oil, Brent | Oct 2025 · 65 | Apr 2026 · 120 | Oct 2026 · 125 |
|---|
Sources: World Bank Commodity Price Data (Pink Sheet), Oct 2026.
Who trades crude oil (brent) · 2025
Imports, US$ million
Exports, US$ million
Source: UN Comtrade, HS 2709, 2025, as reported by each country.
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Naam Global Group lists Basra Light Crude Oil on Global Trade Plaza from United States. The listing was added in June 2025.
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