OPEC’s average crude basket price during August 2018 was $72.26 per barrel, a $1.01 increase compared to the July average of $73.27.
Here are the prices of various crude oil grades produced by OPEC member countries in July and August.
|
OPEC Basket Prices (USD) |
||||
|
Material |
Country |
July 2018 |
August 2018 |
Variation |
|
Arab Light |
Saudi Arabia |
74.16 |
73.38 |
(0.78) |
|
Basra Light |
Iraq |
72.02 |
71.10 |
(0.92) |
|
Bonny Light |
Nigeria |
75.06 |
73.29 |
(1.77) |
|
Es Sider |
Libya |
72.43 |
70.74 |
(1.69) |
|
Girassol |
Angola |
74.40 |
73.20 |
(1.20) |
|
Iran Heavy |
Iran |
71.44 |
70.46 |
(0.98) |
|
Kuwait Export |
Kuwait |
72.33 |
71.82 |
(0.51) |
|
Qatar Marine |
Qatar |
73.06 |
72.45 |
(0.61) |
|
Merey |
Venezuela |
70.37 |
67.38 |
(2.99) |
|
Murban |
UAE |
76.00 |
74.91 |
(1.09) |
|
Oriente |
Ecuador |
69.11 |
69.39 |
+0.28 |
|
Saharan Blend |
Algeria |
73.93 |
72.64 |
(1.29) |
Prices of various crudes are determined by their quality compared to standard materials such as Brent, West Texas and Dubai Crude.
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