For Free Headlines Submit Your Email
Thursday, April 25, 2024 7:15 GMT
The Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at US$22.83 a barrel on Tuesday, compared with US$22.71 on Monday, according to OPEC Secretariat calculations released on Wednesday. The OPEC basket, also known as the OPEC reference basket of crude oil (ORB), is a weighted average of oil prices from different OPEC members around the world and an important benchmark for crude oil prices. It currently averages the oil prices of 13 countries, namely Algeria, Angola, the Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.