OPEC Weekly Basket Price Falls 2 Cents To $96.81 A Barrel - OPEC

http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201102140538dowjonesdjonline000079&title=opec-weekly-basket-price-falls-2-cents-to-9681-a-barrel-opec

LONDON --(Dow Jones)- The value of the Organization of Petroleum Exporting Countries' basket of 12 crude oils fell 2 cents to $96.81 a barrel last week, from $96.83 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 to $28 a barrel price band because concerns about global stability have pushed oil prices up sharply, rendering it irrelevant.

Week Ending

Feb 11$96.81
Feb 04 $96.83
Jan 28 $93.02
Jan 21$93.47
Jan 14 $93.30
Jan 07$90.98 (revised)
Dec 31$89.89
Dec 24 $89.81
Dec 17 $88.39
Dec 10 $87.80Dec 03$84.90Nov 26$81.43
Nov 19 $82.03
Nov 12$84.86
Nov 05 $82.73
Oct 29 $79.66
Oct 22 $78.95
Oct 15 $80.36
Oct 08 $80.52
Oct 01 $76.53
Sep 24 $74.86
Sep 17 $75.28
Sep 10$73.93
Sep 03 $72.77
Aug 27 $70.88
Aug 20 $72.68
Aug 13 $75.38
Aug 06 $78.24
Jul 30 $74.01
Jul 23$73.43
Jul 16 $72.93
Jul 09 $70.63
Jul 02 $72.01
Jun 25$74.36
Jun 18 $73.86
Jun 11 $71.04
Jun 04$71.77
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

Month Ending

Feb 11$96.96 (to week ending Feb 11)
Jan 11$92.83
Dec 10 $88.56
Nov 10 $82.83
Oct 10 $79.86
Sep 10 $74.63
Aug 10 $74.15
Jul 10$72.51
Jun 10 $72.95
May 10 $74.48
Apr 10 $82.33
Mar 10 $77.21

Quarter Average

1Q11 $94.07 (to week ending Feb 11)
4Q10 $83.88
3Q10 $73.76
2Q10 $76.53
1Q10 $75.49
4Q09 $74.29
3Q09 $67.60
2Q09 $58.67
1Q09 $42.98
4Q08 $53.07

Year Average

2011 $94.07 (to week ending Feb 11)
2010 $77.45
2009 $61.06
2008 $94.45
2007 $69.08
2006 $61.08

-By Reza Amanat, Dow Jones Newswires; +44(0)20-7842-9487 begin_of_the_skype_highlighting +44(0)20-7842-9487 end_of_the_skype_highlighting; reza.amanat@ dowjones.com

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