OPEC Basket Crude Price

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OPEC Basket Crude

July 18, 2019
63.10
   1.50 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

66.86
 
0.21
July 15, 2019

WTI Crude

59.30
 
0.69
July 15, 2019
 
 

OPEC Basket

63.10
 
1.50
July 18, 2019

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 July 18, 2019 stood at 63.10 Dollar per Barrel. This represents a decrease in the price of OPEC Basket Crude by 1.50 Dollar per Barrel from it's last day price of US$64.60/barrel on Jul 17, 2019.

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 50.11 Dollar per Barrel on Dec 26, 2018.

OPEC Basket Crude Price Comparision

Price Week
ago
Month
ago
1 Year
ago
5 Years
ago
10 Years
ago
63.10
18 Jul 2019
67.57
11 Jul 2019
61.43
18 Jun 2019
69.98
18 Jul 2018
105.54
18 Jul 2014
63.23
17 Jul 2009
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Jul 18, 2019 63.10 -1.50   2.32%
Jul 17, 2019 64.60 -1.53   2.31%
Jul 16, 2019 66.13 -0.66   0.99%
Jul 15, 2019 66.79 -0.57   0.85%
Jul 12, 2019 67.36 -0.21   0.31%
Jul 11, 2019 67.57 +1.47   2.22%
Jul 10, 2019 66.10 +1.75   2.72%
  (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 61.43 59.57 50.11
Max 67.57 74.04 84.09
Average 64.76 66.25 67.88
Volatility    2.39%    5.57% 10.24%
(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)

63.10

DATE PRICE   CHANGE
Jul 18, 2019     63.10        1.50
Jul 17, 2019     64.60        1.53
Jul 16, 2019     66.13        0.66
Jul 15, 2019     66.79        0.57
Jul 12, 2019     67.36        0.21
Jul 11, 2019     67.57        1.47
Jul 10, 2019     66.10        1.75
Jul 09, 2019     64.35        0.37
Jul 08, 2019     64.72        1.17
Jul 05, 2019     63.55        0.12
Jul 04, 2019     63.43        0.74
Jul 03, 2019     62.69        1.26
Jul 02, 2019     63.95        1.76
Jul 01, 2019     65.71        0.11
Jun 28, 2019     65.60        0.01
Jun 27, 2019     65.61        0.01
Jun 26, 2019     65.60        0.81
Jun 25, 2019     64.79        0.26
Jun 24, 2019     65.05        0.24
Jun 21, 2019     65.29        1.34
Jun 20, 2019     63.95        1.74
Jun 19, 2019     62.21        0.78
Jun 18, 2019     61.43        0.17
Jun 17, 2019     61.60        0.35
Jun 14, 2019     61.25        0.26
Jun 13, 2019     61.51        0.50
Jun 12, 2019     61.01        1.55
Jun 11, 2019     62.56        0.45
Jun 10, 2019     63.01        0.30
Jun 07, 2019     62.71        1.83