Crude Oil: OPEC daily basket price now $90.46 per barrel

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By Emmanuella Anokam

The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at $90.46 per barrel as at Tuesday, Feb. 1.

OPEC logo

This is compared with $90.89 per barrel of the previous Monday, according to OPEC Secretariat calculations obtained by the News Agency of Nigeria (NAN), Abuja, as released by OPEC on Wednesday.

The OPEC Reference Basket of Crudes (ORB), introduced in June 16, 2005 is currently made up of the Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea) and Rabi Light (Gabon).

Read also: OPEC to adjust upward monthly production by 0.4 mb/d

Others include Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). (NAN)



Source: News Agency of Nigeria