Where it comes from
Basrah grades are produced in the oilfields of southern Iraq and exported from terminals on the Arabian Gulf near Basrah. Iraq markets several distinct Basrah streams; Basrah Medium sits between the lighter and heavier export grades in density and sulphur. For the regional context see our Iraq market overview.
Typical characteristics
As a medium sour crude, Basrah Medium is denser and higher in sulphur than light sweet benchmarks such as Brent or WTI. The indicative figures below describe the general character of the stream rather than any single cargo.
| Type | Medium, sour crude oil |
|---|---|
| API gravity (indicative) | ~28 to 31 degrees |
| Sulphur (indicative) | ~2.7% to 3.0% by weight |
| Export region | Southern Iraq, Arabian Gulf terminals |
Indicative ranges only. Crude and product characteristics vary by cargo, source and loading date; final contractual specifications prevail.
How it is priced and traded
Medium sour crudes are generally priced against a regional benchmark plus or minus a differential that reflects quality and freight. Basrah grades are commonly sold under an official selling price formula set by the seller and referenced to Gulf benchmarks. 3FB Energy & Trade trades Basrah Medium on FOB and CIF terms; see how crude oil pricing works and FOB vs CIF for the mechanics.
What it is used for
Medium sour crude is processed by refineries configured to handle higher sulphur feed, typically those with hydrotreating and conversion units. Buyers value a predictable, consistent stream because it lets them plan refinery yields and meet product sulphur limits.