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Crude grade comparison

OPEC Reference Basket vs Arab Light

Price, OPEC Reference Basket spread, quality and refinery yields side by side. Updated .

OPEC (various members)

OPEC Reference Basket

$77.37USD/BBL
■ 0.00(0.00%)
Class
Medium/Sour
API
32.7°
Sulfur
1.77%
VS
OPEC Reference Basket – Arab Light spread +1.69 USD/BBL · OPEC Reference Basket premium
Saudi Arabia (Ghawar, onshore)

Arab Light

$75.68USD/BBL
▼ -31.53 (-41.66%)
Class
Medium/Sour
API
33°
Sulfur
1.7%

OPEC Reference Basket Crude vs Arab Light Crude: on July 06, 2026 OPEC Reference Basket settled at $77.37/bbl (0.00%) and Arab Light at $75.68/bbl (-41.66%), putting OPEC Reference Basket $1.69 above Arab Light. OPEC Reference Basket is medium/sour crude (32.7° API, 1.77% sulfur); Arab Light is medium/sour crude (33° API, 1.7% sulfur).

Price history

OPEC Reference Basket vs Arab Light price chart

Daily assessed prices in USD per barrel and the spread between them.

  • OPEC Reference Basket Crude
  • Arab Light Crude
30-day OPEC Reference Basket avg
$96.30
30 shared days
30-day Arab Light avg
$102.26
30 shared days
Average spread
-5.96
OPEC Reference Basket minus Arab Light
Days OPEC Reference Basket above
6 / 30
widest $12.59 on 2026-04-24

OPEC Reference Basket – Arab Light spread $/bbl · above zero: OPEC Reference Basket premium · below zero: Arab Light premium

Free view: last 30 days. Gaps mark days with no assessment. Subscribe for longer history and Excel export.

View as table
DateOPEC Reference BasketArab LightSpread
28 May 2026-104.05-
27 May 2026-107.21-
21 May 2026-114.03-
14 May 2026-114.57-
13 May 2026-115.40-
08 May 2026-107.47-
07 May 2026-109.23-
05 May 2026-121.04-
04 May 2026-121.29-
01 May 2026-121.29-
29 Apr 2026-119.80-
27 Apr 2026-119.48-
01 Mar 2026-121.29-
29 Jun 202677.37--
26 Jun 202677.37--
25 Jun 202677.37--
23 Jun 202681.59--
22 Jun 202683.16--
18 Jun 202683.74--
17 Jun 202684.43--
16 Jun 202687.90--
15 Jun 202691.69--
12 Jun 202698.07--
11 Jun 202697.18--
10 Jun 202698.9294.18+4.74
09 Jun 2026102.5296.52+6
08 Jun 2026100.63100.03+0.59999999999999
05 Jun 2026101.58105.02-3.44
04 Jun 2026101.58107.32-5.74
03 Jun 2026101.58107.85-6.27
02 Jun 2026104.05103.73+0.31999999999999
01 Jun 2026104.05103.62+0.42999999999999
29 May 202697.52102.10-4.58
22 May 2026113.44113.15+0.28999999999999
20 May 2026115.42--
19 May 2026116.87117.69-0.81999999999999
15 May 2026115.09116.21-1.12
06 May 2026118.33121.04-2.71
28 Apr 2026107.62119.80-12.18
24 Apr 2026106.28118.87-12.59
20 Apr 2026104.79114.20-9.41
14 Apr 2026107.29--
13 Apr 2026107.29113.25-5.96
Price analysis

Highs and lows by period

PeriodOPEC Reference BasketArab Light
HighLowRangeHighLowRange
7 Days---%---%
30 Days---%---%
90 Days---%---%
180 Days116.8777.3733.8%117.6974.7636.48%
365 Days118.3377.3734.62%121.2974.7638.36%

Range = (high − low) ÷ high.

Daily prices

Recent prices & spread

DateOPEC Reference BasketChgArab LightChgSpread
107.290113.250-5.96
107.290
104.79-2.5114.20+0.95-9.41
106.28+1.49118.87+4.67-12.59
107.62+1.34119.80+0.32-12.18
Full daily history for both grades since 2019 is available to subscribers.Subscribe now
Crude quality

Quality & refinery yields

How the two crudes differ in the barrel. Each property uses its own scale.

  • OPEC Reference Basket Crude
  • Arab Light Crude

Physical & chemical properties

API gravityhigher = lighter
ORB32.7°
AL33°
Sulfur contenthigher = sourer
ORB1.77%
AL1.7%
Densityhigher = heavier
ORB0.86 g/cm³
AL0.86 g/cm³
Viscosityhigher = thicker
ORB8 cSt
AL12 cSt
Pour pointhigher = waxier
ORB10 °C
AL15 °C

Typical refinery yields

Gasoline% of barrel
ORB18-22%
AL20-24%
Diesel% of barrel
ORB38-42%
AL42-46%
Jet fuel% of barrel
ORB10-12'%
AL10-12'%
Residual fuel% of barrel
ORB20-25%
AL20-25%

Bars show each yield range; the faint part runs from 0 to the low end. Scale 0–50%.

Full specification comparison

PropertyOPEC Reference Basket CrudeArab Light CrudeOPEC Reference Basket − Arab Light
Classification
ClassificationMedium/SourMedium/Sour
OriginOPEC (various members)Saudi Arabia (Ghawar, onshore)
Chemical properties
API gravity32.7° API33° API-0.3 °API
Sulfur content1.77%1.7%+0.07%
Density0.86 g/cm³0.86 g/cm³0 g/cm³
Pour point10 °C15 °C-5 °C
Viscosity8 cSt12 cSt-4 cSt
Typical refinery yields
Gasoline18-22%20-24%-2 pts
Diesel38-42%42-46%-4 pts
Jet fuel10-12'%10-12'%0 pts
Residual fuel20-25%20-25%0 pts
Trading & logistics
Delivery basisN/A (composite)Ras Tanura, Yanbu
Major exchangesOPECSaudi OSP (vs Oman/Dubai); ICE
Export hubN/A (composite index)Ras Tanura (KSA)
Main destinationsGlobal (index tracking)Asia-Pacific, Europe
Benchmark typeGlobal (index)Global (export)
Market profile
Key characteristicsComposite of 13 OPEC crude grades, represents average OPEC qualitySaudi Arabia's flagship crude, OPEC reference
Refining notesRepresents avg. OPEC crude quality for policy trackingSignificant residuum yield; requires cracking
FAQ

OPEC Reference Basket vs Arab Light questions

The spread, the quality gap and why each grade is a benchmark.

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July 06, 2026 OPEC Reference Basket Crude was $77.37 and Arab Light Crude $75.68 per barrel, so OPEC Reference Basket traded at a premium of $+1.69 over Arab Light. Over the previous 30 shared price days the spread averaged -5.96 $/bbl, with Arab Light priced above OPEC Reference Basket on 6 day(s).

OPEC Reference Basket Crude is a medium/sour OPEC (various members) crude (32.7° API, 1.77% sulfur) and Global (index) benchmark. Arab Light Crude is a medium/sour Saudi Arabia (Ghawar, onshore) crude (33° API, 1.7% sulfur) and Global (export) benchmark.
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