The average price of OPEC’s crude basket during January 2019 was $58.74 per barrel, a $1.80 rise compared to December 2018 price average of $56.94.
Here are the prices of various crude oil grades produced by OPEC member countries in December and January.
|
OPEC Basket Prices |
||||
|
Material |
Country |
Dec. 2018 |
Jan. 2019 |
Variation |
|
Arabian Light |
Saudi Arabia |
58.24 |
59.63 |
+ 1.39 |
|
Basrah Light |
Iraq |
56.12 |
58.20 |
+ 2.08 |
|
Bonny Light |
Nigeria |
57.82 |
60.51 |
+ 2.69 |
|
Es Sider |
Libya |
55.66 |
58.27 |
+ 2.61 |
|
Girassol |
Angola |
57.52 |
59.98 |
+ 2.46 |
|
Iran Heavy |
Iran |
54.84 |
56.29 |
+ 1.45 |
|
Kuwait Export |
Kuwait |
57.10 |
58.65 |
+ 1.55 |
|
Qatar Marine |
Qatar |
57.33 |
50.90 |
+ 1.01 |
|
Miri |
Venezuela |
49.89 |
60.81 |
+ 1.48 |
|
Murban |
UAE |
59.33 |
55.10 |
+ 3.84 |
|
Oriente |
Ecuador |
51.26 |
59.27 |
+ 2.86 |
|
Saharan Blend |
Algeria |
56.41 |
59.63 |
+ 1.39 |
Prices of various raw materials are determined by their quality compared to standard materials such as Brent, West Texas and Dubai Crude.
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