OPEC basket price stood at $84.92 per barrel on average in November, down by 7.5%, or $6.86, compared to $91.78 per barrel a month earlier, according to OPEC Monthly Oil Market Report for October and November 2023.
Prices are determined in terms of quality, in line with other benchmarks like Brent, WTI and Dubai.
|
OPEC Basket Prices (October & November 2023) |
||||
|
Material |
Country |
October 2023 |
November, 2023 |
Change |
|
Arabian Light |
Saudi Arabia |
93.39 |
87.30 |
(6.09) |
|
Basrah Medium |
Iraq |
90.19 |
83.80 |
(6.39) |
|
Bonny Light |
Nigeria |
94.03 |
86.18 |
(7.85) |
|
Es Sider |
Libya |
92.12 |
83.35 |
(8.77) |
|
Girassol |
Angola |
95.72 |
83.22 |
(12.50) |
|
Iran Heavy |
Iran |
91.55 |
85.00 |
(6.55) |
|
Kuwait Export |
Kuwait |
92.85 |
86.30 |
(6.55) |
|
Miri |
Venezuela |
72.54 |
70.74 |
(1.80) |
|
Murban |
UAE |
91.00 |
83.33 |
(7.67) |
|
Saharan Blend |
Algeria |
93.27 |
84.80 |
(8.47) |
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