(MENAFN)
OPEC Secretariat calculations showed that the price of the daily basket of OPEC, also known as the Organization of the Petroleum Exporting Countries, has slightly increased from USD26.53 registered on Tuesday to USD26.53 per barrel on Wednesday.
The OPEC basket, which is also known as the OPEC reference basket of crude oil (ORB), is defined as a weighted average for prices of oil from different OPEC memebers around the world and is used as a key indicator for the crude oil prices.
OPEC currently averages the prices of oil from 13 different countries which are Algeria, Angola, the Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela.
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