Algerian oil prices face sharpest drop in regional market
Algeria’s benchmark crude, Sahara Blend, experienced a sharp decline in May 2026, losing its position at the top of the Arab crude pricing tier, according to the latest monthly report from the Organisation of the Petroleum Exporting Countries (OPEC), as reported by Observalgerie on the 11th of June.
The official data reveals that Sahara Blend averaged $109 per barrel in May. This marks an 18.3% drop from April, when it led the basket at an average of $133.40 per barrel. In absolute terms, the Algerian crude lost $24.40 in value over the month, making it the worst performer by percentage among all Arab crudes within the OPEC basket.
Libya’s Sidra crude also faced a notable decline, dropping 11% from $125.75 to $111.80 per barrel. In contrast, Gulf crudes dominated the upper tier of the pricing index. Saudi Arabia’s Arabian Light took the top spot, rising 14% to average $122.10 per barrel. Iraq’s Basra Medium followed in second place at $120.22 per barrel, up 11%, whilst Kuwait Export completed the top three at $118.65 per barrel, marking a 12% increase.
At the bottom of the list, Algeria’s Sahara Blend occupied the second-to-last position Observalgerie reports. The United Arab Emirates’ Murban crude closed the basket at $102.17 per barrel, down 2% over the month. Outside the OPEC basket, Oman crude traded at an average of $102.10 per barrel, whilst Dubai crude finished at $101.29 per barrel.
The drop in Algerian crude prices occurred despite an overall rise in the OPEC reference basket, which gained over 5% to average $114.55 per barrel in May. On international markets, Brent crude rose 1.2% to $103.71 per barrel, whilst US West Texas Intermediate slipped 0.2% to $98.51 per barrel. By early June, futures contracts for July delivery traded above $92 for Brent and $89 for the West Texas Intermediate. According to Observalgerie, this could signal a downward trend for the summer months.
ObservAlgerie, Organisation of the Petroleum Exporting Countries (OPEC), Maghrebi.org.
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