Here are the prices of various crude oil grades produced by OPEC member countries in April and May 2022.


The average price of OPEC’s crude basket during May was $113.87 per barrel, a $8.23 increase compared to April 2022 price average of $105.64.

 

OPEC Basket Prices

Material 

Country 

April, 2022 

May, 2022 

Change 

Arabian Light 

Saudi Arabia 

107.24

116.44 

+9.20

Basrah Light 

Iraq 

104.63 

111.91 

+7.28

Bonny Light 

Nigeria 

106.39

115.07 

+8.68

Es Sider 

Libya 

104.42 

113.18 

+8.76

Girassol 

Angola 

105.28 

113.95 

+8.67

Iran Heavy 

Iran 

106.28

115.48

+9.20

Kuwait Export 

Kuwait 

107.46

116.82 

+9.36

Miri 

Venezuela 

83.40 

88.07 

+7.67

Murban 

UAE 

104.48 

109.97 

+5.49

Saharan Blend 

Algeria 

109.37 

115.28

+5.91

Prices of various raw materials are determined by their quality compared to standard materials such as Brent, West Texas and Dubai Crude.

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