The average price of OPEC’s crude basket during May 2020 was $25.17 per barrel, a $7.51 increase compared to April 2020 price average of $17.66.
Here are the prices of various crude oil grades produced by OPEC member countries in April and May.
|
OPEC Basket Prices |
||||
|
Material |
Country |
April 2020 |
May 2020 |
Variation |
|
Arabian Light |
Saudi Arabia |
18.27 |
24.99 |
+6.72 |
|
Basrah Light |
Iraq |
16.82 |
24.73 |
+7.91 |
|
Bonny Light |
Nigeria |
15.54 |
24.86 |
+9.32 |
|
Es Sider |
Libya |
11.91 |
21.36 |
+9.98 |
|
Girassol |
Angola |
14.70 |
28.62 |
+13.92 |
|
Iran Heavy |
Iran |
17.16 |
23.55 |
+6.39 |
|
Kuwait Export |
Kuwait |
17.22 |
24.54 |
+7.32 |
|
Miri |
Venezuela |
7.04 |
16.33 |
+9.29 |
|
Murban |
UAE |
23.94 |
28.23 |
+4.29 |
|
Saharan Blend |
Algeria |
17.08 |
26.31 |
+9.23 |
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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