OPEC sets basket price for May, June 2023

Logo of OPEC

OPEC basket price stood at $75.19 a barrel on average in June, down 0.8% ($0.63), compared to $75.82 a barrel in May, according to OPEC Monthly Oil Market Report for May and June 2023.

 

OPEC basket price (May & June 2023)

Item

Country

May 2023

June 2023

Change

Arab Light

Saudi Arabia

77.72

77.18

(0.54)

Basrah Medium

Iraq

73.32

73.03

(0.29)

Bonny Light

Nigeria

75.63

74.18

(1.45)

Es Sider

Libya

75.32

74.23

(1.09)

Girassol

Angola

77.20

76.30

(0.90)

Iran Heavy

Iran

76.47

75.33

(1.14)

Kuwait Export

Kuwait

77.42

76.44

(0.98)

Merey

Venezuela

56.22

57.37

1.15

Murban

UAE

75.66

75.52

(0.14)

Rabi Light

Algeria

76.42

75.23

(1.19)
 

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

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Commodity Price

 
Brent Crude Oil
75.17
0.94 1.27%
Nymex
71.28
1.14 1.62%

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