OPEC Basket Crude Price

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OPEC Basket Crude

April 17, 2019
70.81
   0.70 Dollar per Barrel
 
 
 
Source: OPEC
Crude Oil Prices

Brent Crude

70.90
 
0.67
April 15, 2019

WTI Crude

63.43
 
0.43
April 15, 2019
 
 

OPEC Basket

70.81
 
0.70
April 17, 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 April 17, 2019 stood at 70.81 Dollar per Barrel. This represents an increase in the price of OPEC Basket Crude by 0.70 Dollar per Barrel from it's last day price of US$70.11/barrel on Apr 16, 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
70.81
17 Apr 2019
70.31
10 Apr 2019
66.91
15 Mar 2019
68.36
17 Apr 2018
105.53
17 Apr 2014
51.45
17 Apr 2009
Dollar per Barrel

OPEC Basket Crude Daily Price Trend

OPEC Basket Crude
DATE PRICE CHANGE % CHANGE
Apr 17, 2019 70.81 +0.70   1.00%
Apr 16, 2019 70.11 -0.10   0.14%
Apr 15, 2019 70.21 -0.23   0.33%
Apr 12, 2019 70.44 +0.03   0.04%
Apr 11, 2019 70.41 +0.10   0.14%
Apr 10, 2019 70.31 -0.04   0.06%
Apr 09, 2019 70.35 +0.02   0.03%
  (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 66.19 50.11 50.11
Max 70.81 78.68 84.09
Average 68.57 64.15 69.47
Volatility    2.23%    9.28% 10.16%
(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)

70.81

DATE PRICE   CHANGE
Apr 17, 2019     70.81        0.70
Apr 16, 2019     70.11        0.10
Apr 15, 2019     70.21        0.23
Apr 12, 2019     70.44        0.03
Apr 11, 2019     70.41        0.10
Apr 10, 2019     70.31        0.04
Apr 09, 2019     70.35        0.02
Apr 08, 2019     70.33        1.31
Apr 05, 2019     69.02        0.26
Apr 04, 2019     68.76        0.36
Apr 03, 2019     69.12        0.29
Apr 02, 2019     68.83        0.52
Apr 01, 2019     68.31        1.08
Mar 29, 2019     67.23        0.85
Mar 28, 2019     66.38        0.77
Mar 27, 2019     67.15        0.12
Mar 26, 2019     67.03        0.84
Mar 25, 2019     66.19        0.48
Mar 22, 2019     66.67        1.11
Mar 21, 2019     67.78        0.24
Mar 20, 2019     67.54        0.29
Mar 19, 2019     67.25        0.38
Mar 18, 2019     66.87        0.04
Mar 15, 2019     66.91        0.38
Mar 14, 2019     67.29        0.69
Mar 13, 2019     66.60        0.30
Mar 12, 2019     66.30        0.29
Mar 11, 2019     66.01        1.23
Mar 08, 2019     64.78        0.79
Mar 07, 2019     65.57        0.53