Price of OPEC daily basket drops

2020-01-28 04:36:44

(MENAFN)

OPEC Secretariat calculations showed that the prices of the Organization of the Petroleum Exporting Countries (OPEC) daily basket decreased on Monday to set at USD61.98 per barrel in comparison with USD62.52 per barrel on Friday.

The OPEC basket, which is also known as the OPEC reference basket of crude (ORB), is a weighted average of oil prices from different international OPEC members.

For now OPEC averages the prices of oil from 14 different countries which are Algeria, Angola, the Republic of the Congo, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and Venezuela.

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