OPEC sets basket price for March, April 2023

12/05/2023 Argaam
Logo of OPEC

Logo of OPEC


OPEC basket price stood at $84.13 per barrel on average in April, up by $5.68, compared to $78.45 per barrel in March, according to OPEC Monthly Oil Market Report for March, April 2023.

 

OPEC basket price (March & April 2023)

Item

Country

March 2023

April 2023

Change

Arab Light

Saudi Arabia

80.26

85.65

+5.39

Basrah Medium

Iraq

75.33

81.75

+6.42

Bonny Light

Nigeria

79.24

85.94

+6.70

Es Sider

Libya

77.39

84.00

+6.61

Girassol

Angola

80.31

87.01

+6.70

Iran Heavy

Iran

78.80

84.58

+5.78

Kuwait Export

Kuwait

79.86

85.49

+5.63

Merey

Venezuela

75.25

62.58

+5.33

Murban

UAE

79.55

84.11

+4.56

Rabi Light

Algeria

80.29

85.40

+5.11

 

Prices are determined in terms of quality, in line with other benchmarks like Brent, WTI and Dubai. 

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