The average price of OPEC’s crude basket during February 2021 was $61.05 per barrel, a $6.67 increase compared to January 2021 price average of $54.38.
Here are the prices of various crude oil grades produced by OPEC member countries in January and February 2021.
|
OPEC Basket Prices |
||||
|
Material |
Country |
January 2021 |
February 2021 |
Variation |
|
Arabian Light |
Saudi Arabia |
54.78 |
61.49 |
+ 6.71 |
|
Basrah Light |
Iraq |
54.73 |
61.40 |
+ 6.67 |
|
Bonny Light |
Nigeria |
55.01 |
62.24 |
+ 7.23 |
|
Es Sider |
Libya |
53.08 |
60.83 |
+ 7.75 |
|
Girassol |
Angola |
55.84 |
62.99 |
+ 7.15 |
|
Iran Heavy |
Iran |
54.38 |
60.66 |
+ 6.28 |
|
Kuwait Export |
Kuwait |
54.83 |
61.31 |
+ 6.48 |
|
Miri |
Venezuela |
37.40 |
42.87 |
+ 5.47 |
|
Murban |
UAE |
54.93 |
60.99 |
+ 6.06 |
|
Saharan Blend |
Algeria |
55.08 |
62.38 |
+ 7.30 |
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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