October 2015-E

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Petroleum Devolopments
Volume 41 Issue 1026
Aug. July June May Apr. Mar . Feb.
Jan.
2015 Dec. Nov. Oct. Sept.
Aug.
2014
45.5 54.2 60.2 62.2 57.3 52.5 54.1 44.4 59.5 75.6 85.1 96.0 100.8 OPEC Basket
Price
-8.7
-6.0
-2.0 4.9 4.8
-1.6 9.7
-15.1
-16.1
-9.5
-10.9
-4.8
-4.9
Chamge From
previous
Month
-55.3
-51.4
-47.7
-43.3
-47.0
-51.7
-51.3
-60.3
-48.2
-29.4
-21.6
-12.7
-6.8
Change from
same month of
previous Year
* 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 excluded the Indonesian crude.
Table (3) in the annex show spot prices for OPEC basket and other
crudes for the period 2013-2015.
1-2 Spot Prices of Petroleum Products
- US Gulf
In July 2015, the spot prices of premium gasoline decreased by 5% or
$5.2/bbl comparing with their previous month levels to reach $99.1/bbl,
spot prices of gas oil decreased by 10.6% or $7.7/bbl to reach $64.8/
bbl, and spot prices of fuel oil decreased by 14.8% or $7.8/bbl to reach
$45/bbl.
Figure - 2
Table 1
Table (1) and figure (2) show the change in the price of the OPEC basket
versus last month and the corresponding month of last year :
Change in Price of the OPEC Basket of Crudes, 2014-2015 ($/bbl)
Change in the Price of the OPEC Basket of Crudes, 2014-2015 ($/bbl)