OPEC Weekly Basket Rises $3.14 To $74.21 A Barrel - OPEC

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201006210522dowjonesdjonline000074&title=opec-weekly-basket-rises-314-to-7421-a-barrel-opec

LONDON -(Dow Jones)- The value of the Organization of Petroleum Exporting Countries' basket of 12 crude oils rose $3.14 to $74.21 a barrel last week, from $71.07 a barrel the previous week, OPEC said Monday.

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-$28 a barrel price band because concerns about global stability have pushed oil prices up sharply, rendering it irrelevant.

Week Ending

Jun 18 $74.21
Jun 11 $71.07
Jun 04$71.79
May 28 $68.95
May 21 $70.94
May 14 $77.66
May 07 $80.91
Apr 30 $83.36
Apr 23 $82.02
Apr 16$82.50Apr 09$81.95
Apr 02 $78.64
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$67.70

Month Ending
Jun 10$72.39 (to week ending June 18)
May 10$74.48
Apr 10 $82.33
Mar 10 $77.21
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

Quarter Average

2Q10 $76.90 (to week ending June 18)
1Q10 $75.49
4Q09 $74.29
3Q09 $67.60
2Q09 $58.67
1Q09 $42.98
4Q08 $53.07
3Q08 $113.78
2Q08 $117.46

Year Average

2010 $76.16 (to week ending June 18)
2009 $61.06
2008 $94.45
2007 $69.08
2006 $61.08
2005 $50.64

-By Lananh Nguyen, Dow Jones Newswires; +44 (0)20-7842-9479; lananh.nguyen@ dowjones.com

(END) Dow Jones Newswires
06-21-100522ET
Copyright (c) 2010 Dow Jones & Company, Inc.


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