|
Crude Oil Formulas/Posted Prices ($/B)
Algeria
(Dated Brent + / - Adjustment Factor; $/B)
|
|
2012
|
2011
|
|
|
Jun
|
May
|
Apr
|
Mar
|
Feb
|
Jan
|
Dec
|
Nov
|
Oct
|
Sep
|
Aug
|
Jul
|
Jun
|
Saharan
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blend (44°)
|
-0.50
|
0.00
|
+1.10
|
+0.80
|
+0.80
|
+0.85
|
+0.70
|
+1.75
|
+3.30
|
+1.90
|
+0.70
|
+0.40
|
+1.70
|
Iraq
(+/- Adjustment Factor; $/B)
|
|
2012
|
2011
|
|
|
Jun
|
May
|
Apr
|
Mar
|
Feb
|
Jan
|
Dec
|
Nov
|
Oct
|
Sep
|
Aug
|
Jul
|
Jun
|
Basrah Light Crude
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basrah Light (ASCI*)
|
-1.80
|
-1.90
|
-2.00
|
-2.00
|
-1.70
|
-1.50
|
-1.60
|
-1.60
|
-1.70
|
-1.85
|
-1.75
|
-2.00
|
-2.10
|
Europe
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basrah Light (Dated Brent)
|
-4.50
|
-6.10
|
-4.15
|
-2.55
|
-4.35
|
-2.50
|
-3.15
|
-4.10
|
-3.00
|
-4.05
|
-4.55
|
-5.25
|
-7.05
|
Far East
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basrah Light (Oman/Dubai)
|
-0.25
|
+1.35
|
+1.15
|
+0.65
|
+1.10
|
+2.90
|
+1.80
|
+1.65
|
+0.05
|
-1.00
|
0.00
|
0.00
|
-0.05
|
Kirkuk Crude ex-Ceyhan
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kirkuk (ASCI*)
|
+0.50
|
+0.35
|
+0.05
|
-0.25
|
+0.05
|
+0.15
|
+0.10
|
+0.10
|
+0.10
|
+0.20
|
0.00
|
0.00
|
+0.25
|
Europe
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kirkuk (Dated Brent)
|
-2.30
|
-3.50
|
-2.25
|
-1.25
|
-2.90
|
-0.70
|
-1.35
|
-1.95
|
-1.45
|
-2.75
|
-2.75
|
-3.55
|
-4.75
|
* Iraq’s State Oil Marketing Organization (SOMO) began as of 1 April 2010 pricing its crude oil destined to the US at differentials to the Argus Sour Crude Index (ASCI). Prior to that, crude exports to the US had been priced at Platts WTI 2nd
month for Basrah Light, and Platts WTI 1st
month for Kirkuk.
Kuwait
(+ / - Adjustment Factor; $/B)
|
|
2012
|
2011
|
|
|
Jun
|
May
|
Apr
|
Mar
|
Feb
|
Jan
|
Dec
|
Nov
|
Oct
|
Sep
|
Aug
|
Jul
|
Jun
|
Kuwait Export Crude
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Far East (31º)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oman/Dubai
|
-0.60
|
+0.60
|
+0.70
|
+0.05
|
+0.50
|
+2.40
|
+0.85
|
+0.90
|
-0.55
|
-1.55
|
-0.60
|
-0.85
|
-1.00
|
Europe
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KEC (BWAVE) to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arab Medium
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
-3.70
|
-4.70
|
-4.35
|
-6.60
|
US
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KEC (WTI) to
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arab Medium
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
NA
|
-2.00
|
-2.00
|
-2.15
|
-2.25
|
Libya
(Dated Brent + / - Adjustment Factor; $/B)
|
|
2012
|
2011
|
2010
|
|
|
Jun
|
May
|
Apr
|
Mar
|
Feb
|
Jan
|
Feb
|
Jan
|
Dec
|
Nov
|
Oct
|
Sep
|
Aug
|
Zueitina (41°)
|
+1.30
|
+1.20
|
+1.20
|
+1.00
|
+0.80
|
+0.80
|
+0.40
|
+0.40
|
+0.25
|
+0.25
|
+0.25
|
+0.15
|
+0.05
|
Brega (40°)
|
+0.30
|
+0.30
|
+0.40
|
+0.40
|
+0.30
|
+0.60
|
+0.40
|
+0.40
|
+0.25
|
+0.25
|
+0.25
|
+0.15
|
+0.05
|
Sirtica (41°)
|
-0.80
|
-0.80
|
-0.70
|
+0.60
|
-0.50
|
-0.20
|
-0.25
|
-0.25
|
-0.35
|
-0.35
|
-0.35
|
-0.60
|
-0.70
|
Es Sider (37°)
|
+0.85
|
+1.00
|
+1.00
|
+0.70
|
+0.70
|
+0.70
|
-0.25
|
-0.25
|
-0.40
|
-0.40
|
-0.15
|
-0.65
|
-0.80
|
Bu Attifel (36°)
|
+2.20
|
+2.00
|
+1.90
|
+1.50
|
+1.40
|
+1.40
|
+1.30
|
+1.30
|
+1.20
|
+1.20
|
+1.20
|
+1.10
|
+1.00
|
Sarir (36°)
|
0.00
|
0.00
|
0.00
|
-0.20
|
-0.40
|
-0.20
|
-0.15
|
-0.15
|
-0.20
|
-0.20
|
-0.20
|
-0.25
|
-0.25
|
Amna (36°)
|
+1.00
|
+0.90
|
+0.90
|
+0.90
|
+0.90
|
+1.00
|
+0.25
|
+0.25
|
+0.15
|
+0.15
|
+0.15
|
+0.05
|
0.00
|
Esharara (43°)
|
+1.15
|
+1.30
|
+1.30
|
+1.10
|
+1.20
|
+1.30
|
-1.15
|
+1.15
|
+0.95
|
+0.95
|
+1.10
|
+0.90
|
+0.80
|
Mellitah (41.6°)
|
+0.50
|
+0.75
|
+0.90
|
+0.90
|
+0.90
|
+1.20
|
-0.80
|
+0.80
|
+0.65
|
+0.75
|
+0.95
|
+0.85
|
+0.75
|
Bouri (26°)*
|
-0.10
|
-0.20
|
-0.20
|
-0.20
|
-0.20
|
+0.25
|
-0.40
|
-0.30
|
-0.40
|
-0.45
|
-0.45
|
-0.65
|
-0.75
|
Al Jurf (30°)*
|
+0.40
|
+0.30
|
+0.30
|
+0.40
|
+0.20
|
+0.40
|
+0.30
|
+0.40
|
+0.40
|
+0.40
|
+0.40
|
+0.20
|
+0.20
|
* Adjustment factor is the Urals Average.
Note
: No prices available for Libyan crudes from March-December 2011.
Oman
($/B)
|
|
2012
|
2011
|
|
|
Jun
|
May
|
Apr
|
Mar
|
Feb
|
Jan
|
Dec
|
Nov
|
Oct
|
Sep
|
Aug
|
Jul
|
Jun
|
Oman
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oman (34°)
|
117.29
|
122.80
|
117.32
|
110.63
|
107.41
|
109.33
|
104.88
|
106.96
|
105.10
|
110.78
|
107.84
|
109.20
|
116.51
|
OPEC Basket 2012
Spot Quotations for the OPEC Reference Basket
($/B)
|
|
|
Arab
|
Basra
|
Bonny
|
|
|
Iranian
|
Kuwait
|
2012
|
Basket
|
Light
|
Light
|
Light
|
Es Sider
|
Girassol
|
Heavy
|
Export
|
Jan
|
111.76
|
112.82
|
110.21
|
113.08
|
111.28
|
113.01
|
111.77
|
112.00
|
Feb
|
117.48
|
118.01
|
116.21
|
122.36
|
120.26
|
120.51
|
116.51
|
116.79
|
Mar
|
122.97
|
123.43
|
121.96
|
127.98
|
126.03
|
126.30
|
122.46
|
122.32
|
Apr
|
118.18
|
118.94
|
116.26
|
122.36
|
120.71
|
121.32
|
117.78
|
117.53
|
|
|
|
|
|
|
|
|
|
|
YTD Average
|
117.66
|
118.35
|
116.23
|
121.51
|
119.63
|
120.34
|
117.19
|
117.22
|
|
|
|
|
|
|
|
|
|
|
Year 2011
|
107.46
|
107.82
|
106.17
|
114.15
|
111.90
|
111.57
|
106.11
|
105.63
|
Year 2010
|
77.45
|
77.82
|
76.79
|
81.07
|
79.13
|
79.53
|
76.74
|
76.32
|
Year 2009
|
61.06
|
61.38
|
60.50
|
63.25
|
61.45
|
61.81
|
60.62
|
60.68
|
Year 2008
|
94.45
|
95.16
|
92.08
|
100.60
|
96.65
|
95.64
|
91.49
|
91.16
|
Year 2007
|
69.08
|
68.75
|
66.40
|
75.14
|
71.41
|
70.88
|
67.06
|
66.35
|
Year 2006
|
61.08
|
61.10
|
57.97
|
66.84
|
63.35
|
63.06
|
59.27
|
58.88
|
|
|
Qatar
|
|
|
|
Saharan
|
|
|
Dated
|
2012
|
Marine
|
Merey
|
Murban
|
Oriente
|
Blend
|
Dubai
|
WTI
|
Brent
|
Jan
|
110.65
|
107.77
|
113.03
|
104.11
|
111.43
|
109.86
|
100.30
|
110.58
|
Feb
|
116.99
|
109.26
|
119.31
|
112.44
|
120.36
|
116.17
|
102.35
|
119.56
|
Mar
|
122.80
|
112.07
|
125.61
|
118.26
|
126.13
|
122.47
|
106.31
|
125.33
|
Apr
|
117.39
|
108.62
|
120.44
|
113.86
|
120.81
|
117.30
|
103.35
|
119.71
|
|
|
|
|
|
|
|
|
|
|
YTD Average
|
117.02
|
109.47
|
119.66
|
112.22
|
119.75
|
116.51
|
103.11
|
118.86
|
|
|
|
|
|
|
|
|
|
|
Year 2011
|
106.53
|
97.94
|
109.77
|
101.03
|
112.92
|
106.21
|
94.99
|
111.36
|
Year 2010
|
78.18
|
69.70
|
79.94
|
72.82
|
80.35
|
78.10
|
79.42
|
79.60
|
Year 2009
|
62.38
|
55.90
|
63.78
|
55.84
|
62.35
|
61.83
|
61.88
|
61.68
|
Year 2008
|
94.86
|
86.73
|
99.03
|
85.43
|
98.96
|
93.85
|
100.00
|
97.37
|
Year 2007
|
69.30
|
61.80
|
72.87
|
61.55
|
74.66
|
68.38
|
72.29
|
72.55
|
Year 2006
|
62.64
|
52.01
|
66.07
|
53.93
|
66.05
|
61.54
|
66.04
|
65.16
|
Source
: OPEC Monthly Oil Market Report
. © Copyright MEES 2012.
|
