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The average price of OPEC’s crude basket during August 2021 was $70.33 per barrel, a $3.20 decrease compared to July 2021 price average of $73.53.  

 

OPEC Basket Prices

Material 

Country 

July 2021 

August 2021 

Variation 

Arabian Light 

Saudi Arabia 

74.15

71.36 

(2.79)

Basrah Light 

Iraq 

73.40 

70.39 

(3.01) 

Bonny Light 

Nigeria 

75.37 

71.23 

(4.14)

Es Sider 

Libya 

73.64 

69.45 

(4.19) 

Girassol 

Angola 

75.45 

70.93 

(4.52)

Iran Heavy 

Iran 

72.98 

70.34 

(2.64) 

Kuwait Export 

Kuwait 

73.80

71.06 

(2.74)

Miri 

Venezuela 

54.49 

51.76 

(2.73)

Murban 

UAE 

73.64 

69.89 

(3.75) 

Saharan Blend 

Algeria 

75.34 

71.05

(4.29) 

 

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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