OB04_052020

109 OPEC bulletin 4–5/20 Notes: Brent for dated cargoes; Urals cif Mediterranean. All others fob loading port. * The Republic of the Congo joined on June 22, 2018. Sources: Argus; Secretariat’s assessments. 2019 2020 Weeks 13–17/2020 (week ending) Crude/country Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Mar 27 Apr 3 Apr 10 Apr 17 Apr 24 Arab Heavy — Saudi Arabia 70.60 69.59 61.81 64.29 60.19 62.19 60.22 63.32 65.63 64.41 54.98 34.87 18.05 27.22 22.04 22.31 18.83 15.10 Brega — Libya 70.60 70.35 63.68 63.31 58.23 62.07 59.48 62.86 66.95 63.33 55.40 31.36 14.48 22.58 15.91 18.64 15.83 11.63 Brent Dtd — North Sea 71.15 70.85 64.03 63.91 58.83 62.57 59.73 63.11 66.90 63.38 55.45 31.71 18.83 22.93 18.66 22.99 20.18 15.98 Dubai — UAE 70.93 69.64 61.59 63.21 58.88 61.11 59.46 61.91 64.86 64.10 54.25 33.78 21.33 25.71 24.08 26.01 22.23 17.50 Ekofisk — North Sea 72.06 72.09 65.48 64.41 59.16 63.76 61.06 65.07 69.17 65.42 58.45 32.64 15.55 23.04 16.25 20.34 16.04 12.74 Iran Light — IR Iran 70.34 70.19 60.90 62.16 58.39 60.08 57.71 62.87 65.49 61.29 53.54 27.94 14.93 18.86 14.59 17.51 14.41 13.01 Isthmus — Mexico 70.34 69.04 62.95 63.58 58.71 62.07 59.13 61.69 60.28 55.93 47.50 23.99 7.78 13.82 7.89 9.27 9.98 3.81 Oman — Oman 71.17 70.04 61.72 63.87 59.79 61.97 60.27 62.81 65.49 65.01 54.61 34.85 23.65 27.63 24.91 27.51 24.34 21.60 Suez Mix — Egypt 70.21 70.06 60.77 62.03 58.26 59.95 57.58 62.74 65.36 61.16 53.41 27.81 14.80 18.73 14.46 17.38 14.28 12.88 Minas — Indonesia* 67.64 67.52 59.83 61.56 57.40 60.18 57.36 60.30 62.78 62.10 53.39 32.40 24.24 24.41 23.53 30.72 27.05 19.69 Urals — Russia 71.90 71.68 62.47 63.73 59.95 61.65 59.28 64.44 67.09 62.86 55.11 29.51 16.61 20.43 16.16 19.08 16.58 14.58 WTI — North America 63.87 60.73 54.68 57.51 54.84 56.86 53.98 57.25 59.81 57.56 50.60 29.89 16.52 20.74 22.91 24.39 20.11 3.19 2019 2020 Weeks 13–17/2020 (week ending) Crude/Member Country Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Mar 27 Apr 3 Apr 10 Apr 17 Apr 24 Arab Light — Saudi Arabia 71.88 70.78 63.45 65.61 60.84 62.74 60.99 64.01 67.45 66.56 56.84 35.58 18.27 27.73 21.97 22.71 19.54 14.48 Basrah Light — Iraq 70.45 69.77 62.74 64.39 59.20 61.85 59.52 62.54 65.83 64.06 54.75 33.25 16.82 25.16 19.68 20.99 17.96 13.35 Bonny Light — Nigeria 72.81 72.24 65.59 65.95 60.46 64.02 61.45 63.69 68.18 65.89 57.77 33.41 15.54 24.63 17.36 19.70 16.89 12.69 Djeno — Congo* 68.55 68.25 61.43 61.31 56.23 59.97 57.13 61.40 66.05 62.95 54.37 29.11 11.91 18.76 13.36 16.19 13.11 8.85 Es Sider — Libya 70.45 70.25 63.58 63.36 58.38 62.32 59.78 63.51 67.60 63.63 55.70 31.49 14.58 22.68 16.01 18.74 15.93 11.73 Girassol — Angola 72.88 72.95 65.69 65.98 61.64 65.36 61.34 65.65 69.69 65.41 57.25 32.45 14.70 22.55 15.86 19.39 16.58 11.26 Iran Heavy — IR Iran 68.52 67.86 60.88 62.65 57.77 60.32 57.94 60.73 63.80 62.61 52.87 32.79 17.16 25.15 20.54 21.89 18.36 13.77 Kuwait Export — Kuwait 71.20 70.07 62.58 64.90 60.35 62.16 60.52 63.72 66.26 65.37 55.90 34.85 17.22 27.07 21.24 21.48 18.22 13.81 Merey — Venezuela 58.95 59.15 53.98 61.84 49.17 61.79 45.69 43.44 49.94 56.20 35.99 18.39 7.04 11.51 9.01 10.77 7.78 4.47 Murban — UAE 71.51 69.70 62.75 64.86 60.19 62.39 60.88 63.48 66.66 66.09 57.06 35.60 23.94 26.28 26.34 31.09 25.24 19.22 Rabi Light — Gabon 70.40 70.10 63.28 63.16 58.08 61.82 58.98 61.24 64.08 60.80 53.27 30.16 13.30 20.88 14.71 17.73 15.06 10.06 Saharan Blend — Algeria 71.15 71.20 64.83 63.92 58.23 62.47 60.48 63.86 68.10 65.28 57.91 34.23 17.08 25.45 18.62 21.24 18.43 14.23 Zafiro — Equatorial Guinea 72.65 72.10 65.48 65.58 60.81 64.47 60.86 65.36 69.74 65.31 56.65 30.95 13.40 20.23 15.10 17.87 14.68 10.08 OPEC Reference Basket 70.78 69.97 62.92 64.71 59.62 62.36 59.91 62.94 66.48 65.10 55.53 33.92 17.66 25.70 20.61 22.28 18.86 14.12 Table 1: OPEC Reference Basket spot crude prices $/b Table 2: Selected spot crude prices $/b

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