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Crude Oil Price Movements

2

OPEC Monthly Oil Market Report – August 2017

Graph 1 - 1: Crude oil price movement

M-o-m the

ORB value

rose by $1.72 to settle at $46.93/b, up 3.8%. Compared with the previous year, the

ORB value was 33.7% or $12.55 higher at $49.75/b.

Table 1 - 1: OPEC Reference Basket and selected crudes, US$/b

35

40

45

50

55

60

35

40

45

50

55

60

Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

US$/b

US$/b

OPEC Basket

WTI

Brent Dated

Sources: Argus Media, OPEC Secretariat and Platts.

Jun 17

Jul 17

Jul/Jun

%

2016

2017

Basket

45.21

46.93

1.72

3.8

37.20

49.75

Arab Light

45.21

47.12

1.91

4.2

37.42

49.90

Basrah Light

44.55

46.43

1.88

4.2

35.84

49.13

Bonny Light

46.92

48.66

1.74

3.7

40.61

51.56

Es Sider

44.87

46.96

2.09

4.7

39.61

49.68

Girassol

46.46

48.75

2.29

4.9

40.41

51.31

Iran Heavy

44.62

46.01

1.39

3.1

35.74

49.36

Kuwait Export

44.37

46.19

1.82

4.1

35.50

49.10

Qatar Marine

46.26

47.45

1.19

2.6

37.98

50.61

Merey

42.49

43.41

0.92

2.2

29.54

44.97

Murban

47.86

49.02

1.16

2.4

41.73

52.54

Oriente

43.11

45.21

2.10

4.9

34.70

46.99

Rabi Light

45.45

47.54

2.09

4.6

39.53

50.20

Sahara Blend

46.07

47.96

1.89

4.1

41.32

50.91

Zafiro

45.92

48.19

2.27

4.9

38.96

50.83

Other Crudes

Dated Brent

46.42

48.51

2.09

4.5

40.61

51.23

Dubai

46.38

47.59

1.21

2.6

37.80

50.79

Isthmus

48.21

50.75

2.54

5.3

38.64

52.48

LLS

47.21

49.02

1.81

3.8

42.11

51.42

Mars

43.95

45.85

1.90

4.3

36.94

47.91

Minas

42.65

43.96

1.31

3.1

39.49

47.17

Urals

45.52

47.82

2.30

5.1

39.02

50.05

WTI

45.17

46.67

1.50

3.3

40.27

49.48

Differentials

Brent/WTI

1.25

1.84

0.59

-

0.34

1.76

Brent/LLS

-0.79

-0.51

0.28

-

-1.51

-0.19

Brent/Dubai

0.04

0.92

0.88

-

2.81

0.44

Year-to-date

Sources: Argus Media, Direct Communication, OPEC Secretariat and Platts.

Change