Logo of OPEC
OPEC basket price stood at an average of $87.33 a barrel in August, up 7.7% ($6.27) from $81.06 per barrel in July, according to OPEC Monthly Oil Market Report for July and August 2023.
Here are the prices of various crude oil grades, produced by OPEC member countries in the past two months:
|
OPEC Basket Prices (July-August 2023) |
||||
|
Material |
Country |
July 2023 |
August 2023 |
Change |
|
Arabian Light |
Saudi Arabia |
83.45 |
89.55 |
6.10+ |
|
Basrah Light |
Iraq |
78.82 |
85.38 |
6.56+ |
|
Bonny Light |
Nigeria |
79.92 |
86.52 |
6.60+ |
|
Es Sider |
Libya |
79.69 |
86.39 |
6.70+ |
|
Girassol |
Angola |
82.09 |
89.05 |
6.96+ |
|
Iran Heavy |
Iran |
81.48 |
87.58 |
6.10+ |
|
Kuwait Export |
Kuwait |
82.39 |
88.77 |
6.38+ |
|
Miri |
Venezuela |
63.28 |
68.48 |
5.20+ |
|
Murban |
UAE |
80.78 |
87.24 |
6.46+ |
|
Saharan Blend |
Algeria |
80.29 |
86.69 |
6.40+ |
Prices of various raw materials are determined by their quality against standard materials such as Brent, West Texas and Dubai Crude.
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