OPEC's basket of 12 oils consists of Saharan Blend, Girassol, Oriente, Iran Heavy, Basra Light, Kuwait Export, Es Sider, Bonny Light, Qatar Marine, Arab Light, Murban and Merey.
OPEC devised a new basket after members complained the old basket overstated the value of the group's output.
They pushed for a basket that better represented grades that are higher in sulfur and, as such, relatively cheaper.
On Jan. 30, 2005 OPEC suspended its official $22 to $28 a barrel price band because concerns about global stability have pushed oil prices up sharply, rendering it irrelevant.
Week Ending
Apr 02$78.65
Mar 26 $77.00Mar 19 $77.24
Mar 12$77.71
Mar 05 $76.29
Feb 26$75.32
Feb 19 $73.75
Feb 12 $70.55
Feb 05 $72.33
Jan 29 $71.64
Jan 22 $74.83
Jan 15 $78.14
Jan 08$79.44
Jan 01 $76.24
Dec 25$72.56
Dec 18 $71.44
Dec 11 $73.31
Dec 04 $77.11
Nov 27$75.79
Nov 20 $76.77
Nov 13 $76.25
Nov 06$76.36
Oct 30 $76.03
Oct 23$76.64
Oct 16 $72.21
Oct 09$67.88
Oct 02 $65.75
Sep 25 $66.80Sep 18$68.40Sep 11 $68.09
Sep 04$67.56
Aug 28 $71.42
Aug 21 $70.70Aug 14$71.43
Aug 07 $72.04
Jul 31$67.66
Jul 24 $65.72
Jul 17 $61.61
Jul 10 $61.64
Jul 03 $68.23
Jun 26$67.70Jun 19$69.50Jun 12 $69.17
Jun 05$66.67
May 29 $60.70May 22$57.78
May 15 $56.48
May 08 $54.26
May 01$49.73
Apr 24 $49.03
Month Ending
Apr 10$80.62 (to week ending Apr 02)
Mar 10$77.21 r
Feb 10$72.99
Jan 10 $76.01
Dec 09 $74.01
Nov 09 $76.29
Oct 09$72.67
Sep 09 $67.17
Aug 09$71.35
Jul 09 $64.59
Jun 09 $68.36
May 09 $56.98
Apr 09 $50.20
Quarter Average
2Q10 $80.62 (to week ending Apr 02)
1Q10 $75.49 r
4Q09 $74.29
3Q09 $67.60
2Q09 $58.67
1Q09 $42.98
4Q08 $53.07
3Q08 $113.78
2Q08 $117.46
1Q08 $92.50
Year Average
2010 $75.65 (to week ending Apr 02)
2009 $61.06
2008 $94.45
2007 $69.08
2006 $61.08
2005 $50.64
r = revised
-By Reza Amanat, Dow Jones Newswires; +44 (0)20 7842 9487; reza.amanat@ dowjones.com
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