OPEC Basket Crude Price

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OPEC Basket Crude

August 24, 2020
45.19
   0.27 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

46.01
 
1.58
August 25, 2020

WTI Crude

43.17
 
0.73
August 25, 2020
 
 

OPEC Basket

45.19
 
0.27
August 24, 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 24, 2020 stood at 45.19 Dollar per Barrel. This represents an increase in the price of OPEC Basket Crude by 0.27 Dollar per Barrel from it's last day price of US$44.92/barrel on Aug 21, 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
45.19
24 Aug 2020
44.94
17 Aug 2020
43.38
24 Jul 2020
59.67
23 Aug 2019
40.67
24 Aug 2015
69.69
24 Aug 2010
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Aug 24, 2020 45.19 +0.27   0.60%
Aug 21, 2020 44.92 -0.13   0.29%
Aug 20, 2020 45.05 -0.14   0.31%
Aug 19, 2020 45.19 -0.30   0.66%
Aug 18, 2020 45.49 +0.55   1.22%
Aug 17, 2020 44.94 +0.32   0.72%
Aug 14, 2020 44.62 -0.72   1.59%
  (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 45.49 54.01 70.87
Average 44.56 33.94 48.25
Volatility    1.84% 32.27% 33.85%
(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)

45.19

DATE PRICE   CHANGE
Aug 24, 2020     45.19        0.27
Aug 21, 2020     44.92        0.13
Aug 20, 2020     45.05        0.14
Aug 19, 2020     45.19        0.30
Aug 18, 2020     45.49        0.55
Aug 17, 2020     44.94        0.32
Aug 14, 2020     44.62        0.72
Aug 13, 2020     45.34        0.26
Aug 12, 2020     45.08        0.13
Aug 11, 2020     45.21        0.20
Aug 10, 2020     45.01        0.14
Aug 07, 2020     44.87        0.30
Aug 06, 2020     45.17        0.17
Aug 05, 2020     45.34        1.07
Aug 04, 2020     44.27        0.25
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