The average price of OPEC’s crude basket during September 2019 was $62.36 per barrel, a $2.74 increase compared to August 2019 price average of $59.62.
Here are the prices of various crude oil grades produced by OPEC member countries in May and June.
|
OPEC Basket Prices |
||||
|
Material |
Country |
August 2019 |
September 2019 |
Variation |
|
Arabian Light |
Saudi Arabia |
60.84 |
62.74 |
+ 1.90 |
|
Basrah Light |
Iraq |
59.20 |
61.85 |
+ 2.65 |
|
Bonny Light |
Nigeria |
60.46 |
64.02 |
+ 3.56 |
|
Es Sider |
Libya |
58.38 |
62.32 |
+ 3.94 |
|
Girassol |
Angola |
61.64 |
65.36 |
+ 3.72 |
|
Iran Heavy |
Iran |
57.77 |
60.32 |
+ 2.55 |
|
Kuwait Export |
Kuwait |
60.35 |
62.16 |
+ 1.81 |
|
Miri |
Venezuela |
49.17 |
61.79 |
+ 12.62 |
|
Murban |
UAE |
60.19 |
62.39 |
+ 2.20 |
|
Oriente |
Ecuador |
56.09 |
57.47 |
+ 1.38 |
|
Saharan Blend |
Algeria |
58.23 |
62.47 |
+ 4.24 |
Prices of various raw materials are determined by their quality compared to standard materials such as Brent, West Texas and Dubai Crude.
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