The average price of OPEC’s crude basket during January 2021 was $54.38 per barrel, a $5.21 increase compared to December 2020 price average of $49.17.
 

Here are the prices of various crude oil grades produced by OPEC member countries in December 2020 and January 2021.

 

OPEC Basket Prices

Material 

Country 

December 2020 

January 2021 

Variation 

Arabian Light 

Saudi Arabia 

49.24 

54.78 

+ 5.54 

Basrah Light 

Iraq 

49.95 

54.73

+ 4.78 

Bonny Light 

Nigeria 

49.59 

55.01

+ 5.42 

Es Sider 

Libya 

48.09 

53.08

+ 4.99 

Girassol 

Angola 

51.50 

55.84

+ 4.34 

Iran Heavy 

Iran 

49.20 

54.38

+ 5.18 

Kuwait Export 

Kuwait 

49.36

54.83

+ 5.47 

Miri 

Venezuela 

32.70 

37.40

+ 4.70 

Murban 

UAE 

49.48 

54.93

+ 5.45 

Saharan Blend 

Algeria 

49.99 

55.08

+ 5.09 
 

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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