OPEC Basket Crude Price

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OPEC Basket Crude

February 12, 2019
61.88
   0.48 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

61.30
 
0.07
February 11, 2019

WTI Crude

52.43
 
0.32
February 11, 2019
 
 

OPEC Basket

61.88
 
0.48
February 12, 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 February 12, 2019 stood at 61.88 Dollar per Barrel. This represents an increase in the price of OPEC Basket Crude by 0.48 Dollar per Barrel from it's last day price of US$61.40/barrel on Feb 11, 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
61.88
12 Feb 2019
62.07
5 Feb 2019
60.00
11 Jan 2019
61.04
12 Feb 2018
105.46
12 Feb 2014
41.81
12 Feb 2009
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Feb 12, 2019 61.88 +0.48   0.78%
Feb 11, 2019 61.40 +0.03   0.05%
Feb 08, 2019 61.37 -0.20   0.32%
Feb 07, 2019 61.57 -0.73   1.17%
Feb 06, 2019 62.30 +0.23   0.37%
Feb 05, 2019 62.07 -0.25   0.40%
Feb 04, 2019 62.32 +1.39   2.28%
  (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 58.24 50.11 50.11
Max 62.32 84.09 84.09
Average 60.71 67.94 68.97
Volatility    1.84% 13.63% 10.63%
(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)

61.88

DATE PRICE   CHANGE
Feb 12, 2019     61.88        0.48
Feb 11, 2019     61.40        0.03
Feb 08, 2019     61.37        0.20
Feb 07, 2019     61.57        0.73
Feb 06, 2019     62.30        0.23
Feb 05, 2019     62.07        0.25
Feb 04, 2019     62.32        1.39
Feb 01, 2019     60.93        0.26
Jan 31, 2019     61.19        0.26
Jan 30, 2019     60.93        1.22
Jan 29, 2019     59.71        0.14
Jan 28, 2019     59.57        1.33
Jan 25, 2019     60.90        0.68
Jan 24, 2019     60.22        0.30
Jan 23, 2019     60.52        0.14
Jan 22, 2019     60.66        0.83
Jan 21, 2019     61.49        0.59
Jan 18, 2019     60.90        1.27
Jan 17, 2019     59.63        0.11
Jan 16, 2019     59.52        1.28
Jan 15, 2019     58.24        0.15
Jan 14, 2019     58.39        1.61
Jan 11, 2019     60.00        0.54
Jan 10, 2019     59.46        1.22
Jan 09, 2019     58.24        2.13
Jan 08, 2019     56.11        0.32
Jan 07, 2019     56.43        1.29
Jan 04, 2019     55.14        2.19
Jan 03, 2019     52.95        0.78
Jan 02, 2019     52.17        0.62