AI Summary
OPEC revealed, in its Monthly Oil Market Report for February and March 2025, that crude prices fell for the second successive month.
Data showed that the OPEC basket crude oil price averaged $74 a barrel in March, down 3.7% (or $2.81) from $76.81 in the month before.
The following table lists the prices of various crude oil grades produced by OPEC member countries in the past two months:
|
Material |
Country |
February |
March |
Change |
|
Arabian Light |
Saudi Arabia |
78.59 |
76.07 |
(2.52) |
|
Basrah Medium |
Iraq |
75.73 |
73.82 |
(1.91) |
|
Bonny Light |
Nigeria |
75.85 |
73.59 |
(2.26) |
|
Es Sider |
Libya |
73.96 |
71.19 |
(2.77) |
|
Iran Heavy |
Iran |
77.41 |
74.76 |
(2.65) |
|
Kuwait Export |
Kuwait |
78.16 |
75.36 |
(2.80) |
|
Miri |
Venezuela |
64.96 |
61.10 |
(3.86) |
|
Murban |
UAE |
77.62 |
72.63 |
(4.99) |
|
Saharan Blend |
Algeria |
76.06 |
72.84 |
(3.22) |
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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