OPEC basket average crude oil price up for 4th straight month

14/05/2024 Argaam
Logo of OPEC

Logo of OPEC


OPEC basket crude oil price averaged $89.12 a barrel in April, up 5.8%, or $4.90, from $84.22 in March, surging for the fourth straight month, according to OPEC Monthly Oil Market Report for March and April.

 

Here are the prices of various crude oil grades, produced by OPEC member countries in the past two months:

 

OPEC Basket Prices (March-April 2024)

Material

Country

March

April

Change

Arabian Light

Saudi Arabia

85.61

90.64

5.03+

Basrah Light

Iraq

82.13

87.01

4.88+

Bonny Light

Nigeria

87.86

93.17

5.31+

Es Sider

Libya

85.34

89.34

4.00+

Iran Heavy

Iran

83.48

88.79

5.31+

Kuwait Export

Kuwait

84.43

89.76

5.33+

Miri

Venezuela

70.98

74.91

3.93+

Murban

UAE

84.52

89.19

4.67+

Saharan Blend

Algeria

87.54

90.79

3.25+

 

Prices of various raw materials are determined by their quality against standard materials such as Brent, West Texas and Dubai Crude.

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