The average price of OPEC’s crude basket during February 2019 was $63.83 per barrel, a $5.09 rise compared to January 2019 price average of $58.74.
Here are the prices of various crude oil grades produced by OPEC member countries in January and February.
|
OPEC Basket Prices |
||||
|
Material |
Country |
Jan. 2019 |
Feb. 2019 |
Variation |
|
Arabian Light |
Saudi Arabia |
59.63 |
64.85 |
+ 5.22 |
|
Basrah Light |
Iraq |
58.20 |
63.25 |
+ 5.05 |
|
Bonny Light |
Nigeria |
60.51 |
65.19 |
+ 4.68 |
|
Es Sider |
Libya |
58.27 |
63.15 |
+ 4.88 |
|
Girassol |
Angola |
59.98 |
65.30 |
+ 5.32 |
|
Iran Heavy |
Iran |
56.29 |
61.39 |
+ 5.10 |
|
Kuwait Export |
Kuwait |
58.65 |
63.93 |
+ 5.28 |
|
Qatar Marine |
Qatar |
50.90 |
55.85 |
+ 4.95 |
|
Miri |
Venezuela |
60.81 |
65.64 |
+ 4.83 |
|
Murban |
UAE |
55.10 |
60.42 |
+ 5.32 |
|
Oriente |
Ecuador |
59.27 |
64.30 |
+ 5.03 |
|
Saharan Blend |
Algeria |
59.63 |
64.85 |
+ 5.22 |
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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