BUSINESS OPEC daily basket price increases to 15.23 USD per barrel


OPEC daily basket price increases to 15.23 USD per barrel


21:05, April 24, 2020

oil price.jpeg

Oil tank train cars sit idle Tuesday, April 21, 2020, in East Chicago. (File photo: AP)

VIENNA, April 24 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) daily basket price increased to 15.23 U.S. dollars a barrel on Thursday, compared with 12.22 dollars on Wednesday, according to OPEC Secretariat calculations released on Friday.

Also known as the OPEC reference basket of crude oil, the OPEC basket, a weighted average of oil prices from different OPEC members around the world, is used as 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.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue