The average price of OPEC’s crude basket during July 2020 was $43.42 per barrel, the highest since February, and a $6.37 increase compared to June 2020 average price of $37.05.
Here are the prices of various crude oil grades produced by OPEC member countries in June and July.
|
OPEC Basket Prices |
||||
|
Material |
Country |
June 2020 |
July 2020 |
Variation |
|
Arabian Light |
Saudi Arabia |
36.12 |
43.52 |
+7.40 |
|
Basrah Light |
Iraq |
37.23 |
44.63 |
+7.40 |
|
Bonny Light |
Nigeria |
39.03 |
43.46 |
+4.43 |
|
Es Sider |
Libya |
38.68 |
42.17 |
+3.49 |
|
Girassol |
Angola |
43.10 |
45.78 |
+2.68 |
|
Iran Heavy |
Iran |
36.26 |
43.30 |
+7.04 |
|
Kuwait Export |
Kuwait |
35.58 |
43.31 |
+7.73 |
|
Miri |
Venezuela |
24.73 |
28.32 |
+3.59 |
|
Murban |
UAE |
39.33 |
43.73 |
+4.40 |
|
Saharan Blend |
Algeria |
40.48 |
44.12 |
+3.64 |
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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