Logo of OPEC
The OPEC Reference Basket (ORB) declined for the third time in four months in August, falling 7.1%, or $6.02, to average 78.41 per barrel, from $84.43 in July.
|
OPEC Basket Prices (July & August 2024) |
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|
Material |
Country |
July |
August |
Change |
|
|
|
Arabian Light |
Saudi Arabia |
86.19 |
79.71 |
(6.48) |
|
|
|
Basrah Medium |
Iraq |
83.53 |
77.43 |
(6.10) |
|
|
|
Bonny Light |
Nigeria |
85.07 |
81.99 |
(3.08) |
|
|
|
Es Sider |
Libya |
84.35 |
80.22 |
(4.13) |
|
|
|
Iran Heavy |
Iran |
84.57 |
77.63 |
(6.94) |
|
|
|
Kuwait Export |
Kuwait |
85.72 |
78.80 |
(6.92) |
|
|
|
Miri |
Venezuela |
67.61 |
62.15 |
(5.46) |
|
|
|
Murban |
UAE |
83.80 |
77.92 |
(5.88) |
|
|
|
Saharan Blend |
Algeria |
85.40 |
81.72 |
(3.68) |
|
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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