OPEC crude prices fall for the second consecutive month
Logo of OPEC
OPEC's monthly report, released Wednesday, showed that the average price of its crude oils fell in July for the second consecutive month, following a relative lull in the ongoing conflict between the United States and Iran.
The average price of the OPEC basket of crudes was $82.99 per barrel last month, a decrease of 7.5% or $6.76 from June's level of $89.75.
OPEC crude oil prices during April-May 2026 ($)
|
Oil |
Country |
June |
July |
Change |
|
Arabian Light |
Saudi Arabia |
96.89 |
87.88 |
(9.01) |
|
Basrah Medium |
Iraq |
85.10 |
78.37 |
(6.73) |
|
Bonny Light |
Nigeria |
90.44 |
86.45 |
(3.99) |
|
Sider |
Libya |
86.47 |
83.09 |
(3.38) |
|
Iran Heavy |
Iran |
90.77 |
82.07 |
(8.70) |
|
Kuwait Export |
Kuwait |
92.28 |
82.02 |
(10.26) |
|
Miri |
Venezuela |
71.13 |
67.36 |
(3.77) |
|
Murban Crude |
United Arab Emirates |
81.80 |
79.15 |
(2.65) |
|
Sahara Blend |
Algeria |
87.27 |
83.79 |
(3.48) |
The prices of various crude oils are determined according to their quality compared to standard crudes such as the global benchmark "Brent" crude, the American crude "NYMEX" and Dubai crude.
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