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Crude grade comparison

OPEC Reference Basket vs Basrah Kurmala

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 – Basrah Kurmala spread -40.25 USD/BBL · OPEC Reference Basket premium
Iraq (Rumaila Kurmala layer)

Basrah Kurmala

$117.62USD/BBL
■ 0.00(0.00%)
Class
Medium/Sour
API
32.2°
Sulfur
2%

OPEC Reference Basket Crude vs Basrah Kurmala Crude: on July 06, 2026 OPEC Reference Basket settled at $77.37/bbl (0.00%) and Basrah Kurmala at $117.62/bbl (0.00%), putting Basrah Kurmala $40.25 above OPEC Reference Basket. OPEC Reference Basket is medium/sour crude (32.7° API, 1.77% sulfur); Basrah Kurmala is medium/sour crude (32.2° API, 2% sulfur).

Price history

OPEC Reference Basket vs Basrah Kurmala price chart

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

  • OPEC Reference Basket Crude
  • Basrah Kurmala Crude
30-day OPEC Reference Basket avg
$96.30
30 shared days
30-day Basrah Kurmala avg
$119.08
30 shared days
Average spread
-22.78
OPEC Reference Basket minus Basrah Kurmala
Days OPEC Reference Basket above
0 / 30
widest $10.33 on 2026-04-14

OPEC Reference Basket – Basrah Kurmala spread $/bbl · above zero: OPEC Reference Basket premium · below zero: Basrah Kurmala premium

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

View as table
DateOPEC Reference BasketBasrah KurmalaSpread
07 Apr 2026-122.00-
01 Mar 2026-117.62-
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 202698.92--
09 Jun 2026102.52--
08 Jun 2026100.63--
05 Jun 2026101.58--
04 Jun 2026101.58--
03 Jun 2026101.58--
02 Jun 2026104.05--
01 Jun 2026104.05--
29 May 202697.52--
22 May 2026113.44--
20 May 2026115.42--
19 May 2026116.87--
15 May 2026115.09--
06 May 2026118.33--
28 Apr 2026107.62--
24 Apr 2026106.28--
20 Apr 2026104.79--
14 Apr 2026107.29117.62-10.33
13 Apr 2026107.29--
Price analysis

Highs and lows by period

PeriodOPEC Reference BasketBasrah Kurmala
HighLowRangeHighLowRange
7 Days---%---%
30 Days---%---%
90 Days---%---%
180 Days116.8777.3733.8%---%
365 Days118.3377.3734.62%122117.623.59%

Range = (high − low) ÷ high.

Daily prices

Recent prices & spread

DateOPEC Reference BasketChgBasrah KurmalaChgSpread
107.290
107.290117.62-4.38-10.33
104.79-2.5
106.28+1.49
107.62+1.34
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
  • Basrah Kurmala Crude

Physical & chemical properties

API gravityhigher = lighter
ORB32.7°
BK32.2°
Sulfur contenthigher = sourer
ORB1.77%
BK2%
Densityhigher = heavier
ORB0.86 g/cm³
BK0.86 g/cm³
Viscosityhigher = thicker
ORB8 cSt
BK8.5 cSt
Pour pointhigher = waxier
ORB10 °C
BK15 °C

Typical refinery yields

Gasoline% of barrel
ORB18-22%
BK20-24%
Diesel% of barrel
ORB38-42%
BK38-42%
Jet fuel% of barrel
ORB10-12'%
BK10-12'%
Residual fuel% of barrel
ORB20-25%
BK18-22%

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

Full specification comparison

PropertyOPEC Reference Basket CrudeBasrah Kurmala CrudeOPEC Reference Basket − Basrah Kurmala
Classification
ClassificationMedium/SourMedium/Sour
OriginOPEC (various members)Iraq (Rumaila Kurmala layer)
Chemical properties
API gravity32.7° API32.2° API+0.5 °API
Sulfur content1.77%2%-0.23%
Density0.86 g/cm³0.86 g/cm³0 g/cm³
Pour point10 °C15 °C-5 °C
Viscosity8 cSt8.5 cSt-0.5 cSt
Typical refinery yields
Gasoline18-22%20-24%-2 pts
Diesel38-42%38-42%0 pts
Jet fuel10-12'%10-12'%0 pts
Residual fuel20-25%18-22%+3 pts
Trading & logistics
Delivery basisN/A (composite)Basrah terminals
Major exchangesOPECSOMO OSP differential
Export hubN/A (composite index)Basrah terminals
Main destinationsGlobal (index tracking)Asia
Benchmark typeGlobal (index)Regional
Market profile
Key characteristicsComposite of 13 OPEC crude grades, represents average OPEC qualityIraqi segregated low-sulfur layer
Refining notesRepresents avg. OPEC crude quality for policy trackingQuality-segregated from main crude stream
FAQ

OPEC Reference Basket vs Basrah Kurmala 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 Basrah Kurmala Crude $117.62 per barrel, so Basrah Kurmala traded at a premium of $40.25 over OPEC Reference Basket. Over the previous 30 shared price days the spread averaged -22.78 $/bbl, with Basrah Kurmala priced above OPEC Reference Basket on 0 day(s).

OPEC Reference Basket Crude is a medium/sour OPEC (various members) crude (32.7° API, 1.77% sulfur) and Global (index) benchmark. Basrah Kurmala Crude is a medium/sour Iraq (Rumaila Kurmala layer) crude (32.2° API, 2% sulfur) and Regional benchmark.
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