The average price of OPEC’s crude basket during May 2019 was $69.97 per barrel, a $0.81 decline compared to April 2019 price average of $70.78.
Here are the prices of various crude oil grades produced by OPEC member countries in April and May.
|
OPEC Basket Prices |
||||
|
Material |
Country |
April 2019 |
May 2019 |
Variation |
|
Arabian Light |
Saudi Arabia |
71.88 |
70.78 |
(1.10) |
|
Basrah Light |
Iraq |
70.45 |
69.77 |
(0.68) |
|
Bonny Light |
Nigeria |
72.81 |
72.24 |
(0.57) |
|
Es Sider |
Libya |
70.45 |
70.25 |
(0.20) |
|
Girassol |
Angola |
72.88 |
72.95 |
(0.07) |
|
Iran Heavy |
Iran |
68.52 |
67.86 |
(0.66) |
|
Kuwait Export |
Kuwait |
71.20 |
70.07 |
(1.13) |
|
Miri |
Venezuela |
58.95 |
59.15 |
+ 0.20 |
|
Murban |
UAE |
71.51 |
69.70 |
(1.81) |
|
Oriente |
Ecuador |
67.61 |
65.60 |
(2.01) |
|
Saharan Blend |
Algeria |
71.15 |
71.20 |
+ 0.05 |
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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