Here are the prices of various crude oil grades produced by OPEC member countries in February and March 2021.

 

The average price of OPEC’s crude basket during March 2021 was $64.56 per barrel, a $3.51 increase compared to the February 2021 average price of $61.05.

 

OPEC Basket Prices

Material 

Country 

February 2021 

March 2021 

Variation 

Arabian Light 

Saudi Arabia 

61.49 

65.20 

+ 3.71 

Basrah Light 

Iraq 

61.40 

65.17 

+ 3.77 

Bonny Light 

Nigeria 

62.24 

65.57 

+ 3.33 

Es Sider 

Libya 

60.83 

63.56 

+ 2.73 

Girassol 

Angola 

62.99 

66.04 

+ 3.05 

Iran Heavy 

Iran 

60.66 

64.30 

+ 3.64 

Kuwait Export 

Kuwait 

61.31

64.86 

+ 3.55 

Miri 

Venezuela 

42.87 

46.47 

+ 3.60 

Murban 

UAE 

60.99 

64.33 

+ 3.34 

Saharan Blend 

Algeria 

62.38 

65.76 

+ 3.38 
 

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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