OPEC Basket Crude Price

Fuel Icon

OPEC Basket Crude

December 06, 2018
58.79
   1.29 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

61.22
 
1.05
December 04, 2018

WTI Crude

53.21
 
0.23
December 04, 2018
 
 

OPEC Basket

58.79
 
1.29
December 06, 2018

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 December 06, 2018 stood at 58.79 Dollar per Barrel. This represents a decrease in the price of OPEC Basket Crude by 1.29 Dollar per Barrel from it's last day price of US$60.08/barrel on Dec 05, 2018.

In the 52 week period, the price of OPEC Basket Crude touched a high of 84.09 Dollar per Barrel on Oct 04, 2018 and recorded a low of 58.09 Dollar per Barrel on Nov 29, 2018.

OPEC Basket Crude Price Comparision

Price Week
ago
Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
58.79
6 Dec 2018
58.09
29 Nov 2018
70.88
6 Nov 2018
60.73
6 Dec 2017
108.00
6 Dec 2013
36.67
5 Dec 2008
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Dec 06, 2018 58.79 -1.29   2.15%
Dec 05, 2018 60.08 -1.01   1.65%
Dec 04, 2018 61.09 +0.45   0.74%
Dec 03, 2018 60.64 +2.31   3.96%
Nov 30, 2018 58.33 +0.24   0.41%
Nov 29, 2018 58.09 -1.16   1.96%
Nov 28, 2018 59.25 +0.20   0.34%
  (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 58.09 58.09 58.09
Max 70.88 84.09 84.09
Average 63.59 73.00 70.03
Volatility    6.76%    7.85%    8.54%
(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


Advertisment
Advertisment

OPEC Basket Crude
Historical Price

Select Date

OPEC Basket Crude
(Dollar per Barrel)

DATE PRICE   CHANGE
Dec 06, 2018     58.79        1.29
Dec 05, 2018     60.08        1.01
Dec 04, 2018     61.09        0.45
Dec 03, 2018     60.64        2.31
Nov 30, 2018     58.33        0.24
Nov 29, 2018     58.09        1.16
Nov 28, 2018     59.25        0.20
Nov 27, 2018     59.05        0.24
Nov 26, 2018     59.29        0.98
Nov 23, 2018     60.27        1.81
Nov 22, 2018     62.08        0.25
Nov 21, 2018     62.33        1.69
Nov 20, 2018     64.02        1.44
Nov 19, 2018     65.46        0.54
Nov 16, 2018     66.00        0.72
Nov 15, 2018     65.28        0.77
Nov 14, 2018     64.51        2.50
Nov 13, 2018     67.01        2.81
Nov 12, 2018     69.82        0.93
Nov 09, 2018     68.89        1.79
Nov 08, 2018     70.68        0.05
Nov 07, 2018     70.63        0.25
Nov 06, 2018     70.88        0.57
Nov 05, 2018     71.45        0.09
Nov 02, 2018     71.36        1.28
Nov 01, 2018     72.64        2.60
Oct 31, 2018     75.24        0.27
Oct 30, 2018     75.51        0.56
Oct 29, 2018     76.07        0.36
Oct 26, 2018     75.71        0.38