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 OPEC oil basket price plummets below $52

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The price of OPEC oil basket as of Jan. 2, 2015 fell to $51.91 a barrel.

This was stated today by the Secretariat of the OPEC, Censor.NET reports citing RBC-Ukraine.

As of Dec. 29, 2014 the price of OPEC oil basket constituted $54.44 per barrel.

Earlier, Censor.NET reported that today the price of Brent crude oil dropped below $56 per barrel.

OPEC oil basket (OPEC Reference Basket of crudes) is one of the key indicators of the world market price of hydrocarbons. It reflects the average price of oil, which is supplied to the world market by the countries of the international organization of oil exporters. The pricing of the oil basket is carried out daily on business days for the previous trading day by the OPEC Secretariat, seated in Vienna.

Since January 2009 the OPEC basket is represented by 12 brands of oil in accordance with the number of countries participating in the organization:

- Saharan Blend - Algeria;
- Girassol - Angola;
- Merey - Venezuela;
- Basra Light - Iraq;
- Iran Heavy - Iran;
- Qatar Marine - Qatar;
- Kuwait Export - Kuwait;
- Es Sider - Libya;
- Bonny Light - Nigeria;
- Murban - United Arab Emirates;
- Arab Light - Saudi Arabia;
- Oriente - Ecuador.
 
 
 
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