OPEC daily basket price stands at 23.25 USD per barrel

Source: Xinhua| 2020-05-14 17:10:48|Editor: huaxia

VIENNA, May 14 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at 23.25 U.S. dollars a barrel on Wednesday, slightly up from 22.83 dollars on Tuesday, according to OPEC Secretariat calculations released on Thursday.

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. Enditem