OPEC Basket Crude Price

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OPEC Basket Crude

August 03, 2020
44.02
   1.00 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

43.39
 
0.10
July 27, 2020

WTI Crude

41.46
 
0.23
July 27, 2020
 
 

OPEC Basket

44.02
 
1.00
August 03, 2020

Indian Basket

33.36
 
21.27
Mar 2020
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 August 03, 2020 stood at 44.02 Dollar per Barrel. This represents an increase in the price of OPEC Basket Crude by 1.00 Dollar per Barrel from it's last day price of US$43.02/barrel on Jul 31, 2020.

In the 52 week period, the price of OPEC Basket Crude touched a high of 70.87 Dollar per Barrel on Jan 06, 2020 and recorded a low of 12.22 Dollar per Barrel on Apr 22, 2020.

OPEC Basket Crude Price Comparision

Price Week
ago
Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
44.02
3 Aug 2020
43.14
27 Jul 2020
42.96
3 Jul 2020
61.67
2 Aug 2019
48.40
3 Aug 2015
78.41
3 Aug 2010
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Aug 03, 2020 44.02 +1.00   2.32%
Jul 31, 2020 43.02 +0.03   0.07%
Jul 30, 2020 42.99 -0.60   1.38%
Jul 29, 2020 43.59 +0.19   0.44%
Jul 28, 2020 43.40 +0.26   0.60%
Jul 27, 2020 43.14 -0.24   0.55%
Jul 24, 2020 43.38 -1.24   2.78%
  (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 42.99 12.22 12.22
Max 44.62 58.94 70.87
Average 43.53 35.26 49.08
Volatility    1.06% 36.16% 33.64%
(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)

44.02

DATE PRICE   CHANGE
Aug 03, 2020     44.02        1.00
Jul 31, 2020     43.02        0.03
Jul 30, 2020     42.99        0.60
Jul 29, 2020     43.59        0.19
Jul 28, 2020     43.40        0.26
Jul 27, 2020     43.14        0.24
Jul 24, 2020     43.38        1.24
Jul 23, 2020     44.62        0.38
Jul 22, 2020     44.24        0.05
Jul 21, 2020     44.29        1.26
Jul 20, 2020     43.03        0.19
Jul 17, 2020     43.22        0.58
Jul 16, 2020     43.80        0.32
Jul 15, 2020     44.12        1.10
Jul 14, 2020     43.02        0.36
Jul 13, 2020     43.38        0.09
Jul 10, 2020     43.47        0.16
Jul 09, 2020     43.31        0.13
Jul 08, 2020     43.44        0.29
Jul 07, 2020     43.15        0.42
Jul 06, 2020     43.57        0.61
Jul 03, 2020     42.96        0.03
Jul 02, 2020     42.93        0.24
Jul 01, 2020     42.69        4.47
Jun 30, 2020     38.22        0.88
Jun 29, 2020     37.34        0.65
Jun 26, 2020     37.99        0.81
Jun 25, 2020     37.18        0.99
Jun 24, 2020     38.17        1.68
Jun 23, 2020     39.85        0.89