The average price of OPEC’s crude basket during August 2020 was $45.19 per barrel, an increase of $1.77 month-on-month (MoM) from $43.42.
Here are the prices of various crude oil grades produced by OPEC member countries in July and August.
|
OPEC Basket Prices |
||||
|
Material |
Country |
July 2020 |
August 2020 |
Variation |
|
Arabian Light |
Saudi Arabia |
43.52 |
45.33 |
+1.81 |
|
Basrah Light |
Iraq |
44.63 |
46.10 |
+1.47 |
|
Bonny Light |
Nigeria |
43.46 |
45.40 |
+1.94 |
|
Es Sider |
Libya |
42.17 |
43.69 |
+1.52 |
|
Girassol |
Angola |
45.78 |
45.83 |
+0.05 |
|
Iran Heavy |
Iran |
43.30 |
45.07 |
+1.77 |
|
Kuwait Export |
Kuwait |
43.31 |
45.08 |
+1.77 |
|
Miri |
Venezuela |
28.32 |
35.21 |
+6.89 |
|
Murban |
UAE |
43.73 |
45.49 |
+1.76 |
|
Saharan Blend |
Algeria |
44.12 |
45.64 |
+1.52 |
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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