CHINA OPEC daily basket price plunges to 17.51 USD per barrel


OPEC daily basket price plunges to 17.51 USD per barrel


17:08, April 16, 2020

VIENNA, April 16 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) daily basket price dropped to 17.51 U.S. dollars a barrel on Wednesday, compared with 19.70 dollars on Tuesday, according to OPEC Secretariat calculations released on Thursday.

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


(Photo: VCG)

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