Previous Page  39 / 54 Next Page
Information
Show Menu
Previous Page 39 / 54 Next Page
Page Background

Volume

44

Issue

1

39

* Effective June 16,2005 OPEC replaced its seven-crude basket with one comprised of eleven crudes, one from each member country

(weighted according to production and exports to major markets). Effective 1 January and mid of October 2007, Angola’s Girassol and

Ecuadorian Oriente crudes have been incorporated to become the 12th and 13th crudes comprising the new OPEC Basket. As of Jan.2009,

the basket excludes the Indonesian crude. As of Jan. 2016, the basket price includes the Indonesian crude. As of July 2016, the basket price

includes the Gabonese crude. As of Jan. 2017, the basket excludes the Indonesian crude. As of June 2017 the basket price includes the

Equatorial Guinean crude “Zafiro”.

Table (3)

in the annex show spot prices for OPEC basket and other crudes

for the period 2015-2017.

1-2 Spot Prices of Petroleum Products

- US Gulf

In November 2017, the spot prices of premium gasoline increased

by 4% or $3/bbl comparing with their previous month levels to reach

$78.2/bbl, spot prices of gas oil increased by 8.6% or $5.7/bbl to reach

$71.8/bbl, and spot prices of fuel oil increased by 11.3% or $5.6/bbl to

reach $55/bbl.

Figure - 2

Table 1

Table (1)

and

figure (2)

show the change in the price of the OPEC basket

versus last month and the corresponding month of last year:

Change in Price of the OPEC Basket of Crudes, 2016-2017

($/bbl)

Change in the Price of the OPEC Basket of Crudes, 2016-2017

($/bbl)

Nov.

2016 Dec.

Jan.

2017 Feb.

Mar.

Apr.

May June July Aug.

Sep.

Oct.

Nov.

OPEC Basket

Price

43.2 51.7 52.4 53.4 50.3 51.4 49.2 45.2 46.9 49.6 53.4 55.5 60.7

Chamge From

previous

Month

-4.7

8.5 0.7 1.0

-3.1

1.1

-2.2 -4.0

1.7 2.7 3.8 2.1 5.2

Change from same

month of previous

Year

2.7 18.1 25.9 24.7 15.7 13.5 6.0

-0.6

4.2 6.5 10.5 7.6 17.5