OPEC's average basket price down for fourth time in 5 months

14/10/2024 Argaam
Logo ofOPEC

Logo of OPEC


The OPEC Reference Basket (ORB) declined for the fourth time in five months in September, falling 6.1%, or $4.82, to average $73.59 per barrel, from $78.41 in August.

 

OPEC Basket Prices (August & September 2024)

Material 

Country 

August

September

Change 

Arabian Light 

Saudi Arabia 

79.71

75.16

(4.55)

Basrah Medium

Iraq 

77.43

72.31

(5.12)

Bonny Light 

Nigeria 

81.99

77.08

(4.91)

Es Sider 

Libya 

80.22

73.21

(7.01)

Iran Heavy 

Iran 

77.63

73.59

(4.04)

Kuwait Export 

Kuwait 

78.80

74.69

(4.11)

Miri 

Venezuela 

62.15

54.91

(7.24)

Murban 

UAE 

77.92

73.41

(4.51)

Saharan Blend 

Algeria 

81.72

76.21

(5.51)

 

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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