The average price of OPEC’s crude basket during Feb. 2020 was $55.49 per barrel, a $9.60 drop compared to Jan. 2020 price average of $65.09.
Here are the prices of various crude oil grades produced by OPEC member countries in January and February.
|
OPEC Basket Prices |
||||
|
Material |
Country |
Jan. 2020 |
Feb. 2020 |
Variation |
|
Arabian Light |
Saudi Arabia |
66.56 |
56.84 |
( 9.72 ) |
|
Basrah Light |
Iraq |
64.06 |
54.75 |
( 9.31 ) |
|
Bonny Light |
Nigeria |
65.89 |
57.77 |
( 8.12 ) |
|
Es Sider |
Libya |
63.63 |
54.65 |
( 8.98 ) |
|
Girassol |
Angola |
65.41 |
57.25 |
( 8.16 ) |
|
Iran Heavy |
Iran |
62.61 |
52.87 |
( 9.74 ) |
|
Kuwait Export |
Kuwait |
65.37 |
55.90 |
( 9.47 ) |
|
Miri |
Venezuela |
55.89 |
35.99 |
( 19.90 ) |
|
Murban |
UAE |
66.09 |
57.06 |
( 9.03 ) |
|
Oriente |
Ecuador |
65.28 |
57.91 |
( 7.37 ) |
|
Saharan Blend |
Algeria |
66.56 |
56.84 |
( 9.72 ) |
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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