OPEC Report Shows Sahara Blend as Top Arab Crude
Algerian Sahara Blend oil prices rose by 16.4% in October 2026, making it the most expensive among Arab crudes in the OPEC reference basket. This significant increase supports Algeria's financial balance by boosting export revenues and government income.
Algeria's Sahara Blend crude oil recorded a substantial 16.4% price increase in October 2026, significantly outpacing the overall growth in the Organization of the Petroleum Exporting Countries' (OPEC) reference basket. Reaching an average of $137.94 per barrel, Sahara Blend emerged as the most expensive oil within the group of Arab crudes included in OPEC's reference basket, according to the organization’s monthly oil market report. This surge from $118.49 per barrel in September represented the strongest rise among all leading oil indices, while the overall OPEC basket saw a modest 1.4% increase, moving from $110.59 to $112.12 per barrel.
Within the Arab crude oil group, Sahara Blend led the price gains, followed by Libya's Es Sider, which averaged $129.94 per barrel, an increase of approximately 11% from the previous month. Iraqi Basrah Medium crude also saw a rise, reaching $111.79 per barrel, a roughly 3% increase. In contrast, key oil types from the Gulf region experienced declines; Murban crude from the United Arab Emirates dropped about 4% to $111.16 per barrel, and both Saudi Arabia's Arab Light and Kuwait's Export crude fell approximately 1%, averaging $107.97 and $107.87 per barrel respectively. International benchmark prices also varied, with Brent crude rising over 6% to an average of $108.34 per barrel in October, while US WTI crude stood at $96.94 per barrel.
The Sahara Blend, a light crude oil with low sulfur content, is highly valued for its quality and often commands a higher price than other benchmark oils. For Algeria, the increase in Sahara Blend prices holds significant importance, as the oil and gas sector remains a crucial contributor to export revenues and government income. This price appreciation is expected to help the North African nation increase its foreign exchange earnings, thereby bolstering its financial balance. While the $137.94 per barrel figure represents the average price for October, the oil market demonstrated continued volatility into early November, with Brent crude contracts for January 2027 delivery trading around $92.86 per barrel as of November 11.
