OPEC Basket Crude Price

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OPEC Basket Crude

February 19, 2020
58.35
   1.67 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

57.35
 
0.48
February 18, 2020

WTI Crude

52.10
 
0.07
February 18, 2020
 
 

OPEC Basket

58.35
 
1.67
February 19, 2020

Indian Basket

77.88
 
5.35
Sep 2018
Source: EIA, OPEC, PPAC

Chart of OPEC Basket Crude Prices - Daily/ Weekly/ Monthly/ Yearly

Source: Organization of the Petroleum Exporting Countries

OPEC Basket Crude Prices

OPEC Basket Crude price on February 19, 2020 stood at 58.35 Dollar per Barrel. This represents an increase in the price of OPEC Basket Crude by 1.67 Dollar per Barrel from it's last day price of US$56.68/barrel on Feb 18, 2020.

In the 52 week period, the price of OPEC Basket Crude touched a high of 74.04 Dollar per Barrel on Apr 25, 2019 and recorded a low of 54.16 Dollar per Barrel on Feb 11, 2020.

OPEC Basket Crude Price Comparision

Price Week
ago
Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
58.35
19 Feb 2020
55.54
12 Feb 2020
65.58
17 Jan 2020
65.79
19 Feb 2019
56.29
19 Feb 2015
75.17
19 Feb 2010
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Feb 19, 2020 58.35 +1.67   2.95%
Feb 18, 2020 56.68 -0.56   0.98%
Feb 17, 2020 57.24 +0.51   0.90%
Feb 14, 2020 56.73 +0.87   1.56%
Feb 13, 2020 55.86 +0.32   0.58%
Feb 12, 2020 55.54 +1.38   2.55%
Feb 11, 2020 54.16 -0.01   0.02%
  (Dollar per Barrel) Source: OPEC

OPEC Basket Crude Monthly Average Price Trend

OPEC Basket Crude Monthly Average Price Trend Chart

OPEC Basket Crude Yearly Average Price Trend

OPEC Basket Crude Yearly Average Price Trend


OPEC Basket Crude

The new OPEC Reference Basket (ORB), introduced on 16 June 2005, is currently made up of the following:

  1. Saharan Blend (Algeria);
  2. Girassol (Angola);
  3. Oriente (Ecuador);
  4. Zafiro (Equatorial Guinea);
  5. Rabi Light (Gabon);
  6. Iran Heavy (Islamic Republic of Iran);
  7. Basra Light (Iraq);
  8. Kuwait Export (Kuwait);
  9. Es Sider (Libya);
  10. Bonny Light (Nigeria);
  11. Qatar Marine (Qatar);
  12. Arab Light (Saudi Arabia);
  13. Murban (UAE) and
  14. Merey (Venezuela)

OPEC Reference Basket (ORB) represent the main export crudes of all Member Countries, weighted according to production and exports to the main markets. The API gravity for the new OPEC Reference Basket is 32.7º and the sulphur content of the new Reference Basket 1.77% (OPEC Press Release, Jun 2005).


Volatility in OPEC Basket Crude Prices

  Last 30 Days Last 6 Mths Last 1 Year
Min 54.16 54.16 54.16
Max 66.11 70.87 74.04
Average 58.61 62.37 64.23
Volatility    6.36%    6.04%    6.63%
(Dollar per Barrel)

  • I think, for OPEC, the main challenge is to have a price level which brings good profits to them, good incentives for the investments, but at the same time, to prevent prices going to very high levels.

  • ~ Fatih Birol


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Historical Price of
 in

Select Date

OPEC Basket Crude
(Dollar per Barrel)

58.35

DATE PRICE   CHANGE
Feb 19, 2020     58.35        1.67
Feb 18, 2020     56.68        0.56
Feb 17, 2020     57.24        0.51
Feb 14, 2020     56.73        0.87
Feb 13, 2020     55.86        0.32
Feb 12, 2020     55.54        1.38
Feb 11, 2020     54.16        0.01
Feb 10, 2020     54.17        0.92
Feb 07, 2020     55.09        0.63
Feb 06, 2020     55.72        0.73
Feb 05, 2020     54.99        0.33
Feb 04, 2020     54.66        0.85
Feb 03, 2020     55.51        3.43
Jan 31, 2020     58.94        0.14
Jan 30, 2020     58.80        2.24
Jan 29, 2020     61.04        0.37
Jan 28, 2020     60.67        1.31
Jan 27, 2020     61.98        0.54
Jan 24, 2020     62.52        0.74
Jan 23, 2020     63.26        1.40
Jan 22, 2020     64.66        0.60
Jan 21, 2020     65.26        0.85
Jan 20, 2020     66.11        0.53
Jan 17, 2020     65.58        0.04
Jan 16, 2020     65.62        0.30
Jan 15, 2020     65.32        0.31
Jan 14, 2020     65.63        0.44
Jan 13, 2020     66.07        0.95
Jan 10, 2020     67.02        0.22
Jan 09, 2020     67.24        2.34