The average price of OPEC’s crude basket during June 2020 was $37.05 per barrel, a $11.88 increase compared to May 2020 price average of $25.17.
Here are the prices of various crude oil grades produced by OPEC member countries in May and June.
|
OPEC Basket Prices |
||||
|
Material |
Country |
May 2020 |
June 2020 |
Variation |
|
Arabian Light |
Saudi Arabia |
24.99 |
36.12 |
+11.13 |
|
Basrah Light |
Iraq |
24.73 |
37.23 |
+12.50 |
|
Bonny Light |
Nigeria |
24.86 |
39.03 |
+14.17 |
|
Es Sider |
Libya |
24.56 |
38.68 |
+14.12 |
|
Girassol |
Angola |
28.62 |
43.10 |
+14.48 |
|
Iran Heavy |
Iran |
23.55 |
36.26 |
+12.71 |
|
Kuwait Export |
Kuwait |
24.54 |
35.58 |
+11.04 |
|
Miri |
Venezuela |
16.33 |
24.73 |
+8.40 |
|
Murban |
UAE |
28.23 |
39.33 |
+11.10 |
|
Saharan Blend |
Algeria |
26.31 |
40.48 |
+14.17 |
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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