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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