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OPEC revealed in its monthly report, issued Monday, changes in its crude oil prices during April and May 2025, which fell for the fourth consecutive month.
Data showed that the OPEC basket crude oil price averaged $63.62 a barrel in May, down 7.8% (or $5.36) from $68.98 in April.
The following table lists the prices of various crude oil grades produced by OPEC member countries in the past two months:
|
OPEC Basket Prices (April - May 2025) |
||||
|
Material |
Country |
April |
May |
Change |
|
Arabian Light |
Saudi Arabia |
70.92 |
65.00 |
(5.92) |
|
Basrah Medium |
Iraq |
68.64 |
63.23 |
(5.41) |
|
Bonny Light |
Nigeria |
68.48 |
64.55 |
(3.93) |
|
Es Sider |
Libya |
67.00 |
63.52 |
(3.48) |
|
Iran Heavy |
Iran |
69.73 |
63.25 |
(6.48) |
|
Kuwait Export |
Kuwait |
70.28 |
63.94 |
(6.34) |
|
Miri |
Venezuela |
56.72 |
51.73 |
(4.99) |
|
Murban |
UAE |
67.73 |
63.63 |
(4.10) |
|
Saharan Blend |
Algeria |
67.95 |
64.47 |
(3.48) |
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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