BUSINESS

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

Published

2 years ago

February 2, 2022

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.

This is compared with $90.89 per barrel of the previous Monday, according to OPEC Secretariat calculations obtained by our correspondent, 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).

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).

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Emmanuella Anokam

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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

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