The average price of OPEC’s crude basket during December 2020 was $49.17 per barrel, a $6.56 increase compared to November 2020 price average of $42.61.
Here are the prices of various crude oil grades produced by OPEC member countries in November and December.
|
OPEC Basket Prices |
||||
|
Material |
Country |
November 2020 |
December 2020 |
Variation |
|
Arabian Light |
Saudi Arabia |
42.98 |
49.24 |
+6.26 |
|
Basrah Light |
Iraq |
43.12 |
49.95 |
+6.83 |
|
Bonny Light |
Nigeria |
41.91 |
49.59 |
+7.68 |
|
Es Sider |
Libya |
40.24 |
48.09 |
+7.85 |
|
Girassol |
Angola |
44.11 |
51.50 |
+7.39 |
|
Iran Heavy |
Iran |
42.88 |
49.20 |
+6.32 |
|
Kuwait Export |
Kuwait |
42.99 |
49.36 |
+6.37 |
|
Miri |
Venezuela |
27.07 |
32.70 |
+5.63 |
|
Murban |
UAE |
43.09 |
49.48 |
+6.39 |
|
Saharan Blend |
Algeria |
42.59 |
49.99 |
+7.40 |
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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