OPEC Basket Crude Price

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OPEC Basket Crude

September 02, 2019
58.76
   1.35 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

58.64
 
0.00
August 26, 2019

WTI Crude

53.54
 
0.54
August 26, 2019
 
 

OPEC Basket

58.76
 
1.35
September 02, 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 September 02, 2019 stood at 58.76 Dollar per Barrel. This represents a decrease in the price of OPEC Basket Crude by 1.35 Dollar per Barrel from it's last day price of US$60.11/barrel on Aug 30, 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
58.76
2 Sep 2019
59.18
26 Aug 2019
61.67
2 Aug 2019
75.74
31 Aug 2018
98.95
2 Sep 2014
66.64
2 Sep 2009
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Sep 02, 2019 58.76 -1.35   2.25%
Aug 30, 2019 60.11 -0.13   0.22%
Aug 29, 2019 60.24 +0.08   0.13%
Aug 28, 2019 60.16 +1.18   2.00%
Aug 27, 2019 58.98 -0.20   0.34%
Aug 26, 2019 59.18 -0.49   0.82%
Aug 23, 2019 59.67 -0.83   1.37%
  (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 57.50 57.50 50.11
Max 60.66 74.04 84.09
Average 59.36 65.72 66.44
Volatility    1.55%    6.45% 10.67%
(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)

58.76

DATE PRICE   CHANGE
Sep 02, 2019     58.76        1.35
Aug 30, 2019     60.11        0.13
Aug 29, 2019     60.24        0.08
Aug 28, 2019     60.16        1.18
Aug 27, 2019     58.98        0.20
Aug 26, 2019     59.18        0.49
Aug 23, 2019     59.67        0.83
Aug 22, 2019     60.50        0.16
Aug 21, 2019     60.66        0.72
Aug 20, 2019     59.94        0.48
Aug 19, 2019     59.46        0.43
Aug 16, 2019     59.03        0.16
Aug 15, 2019     58.87        1.12
Aug 14, 2019     59.99        0.52
Aug 13, 2019     59.47        1.51
Aug 12, 2019     57.96        0.04
Aug 09, 2019     58.00        0.50
Aug 08, 2019     57.50        0.32
Aug 07, 2019     57.82        1.89
Aug 06, 2019     59.71        0.83
Aug 05, 2019     60.54        1.13
Aug 02, 2019     61.67        1.83
Aug 01, 2019     63.50        2.03
Jul 31, 2019     65.53        0.91
Jul 30, 2019     64.62        0.83
Jul 29, 2019     63.79        0.23
Jul 26, 2019     64.02        0.53
Jul 25, 2019     64.55        0.03
Jul 24, 2019     64.58        0.66
Jul 23, 2019     63.92        0.35