2024-06-15 09:54:27
The common oil value of the Group of the Petroleum Exporting Nations (OPEC) fell yesterday to 82.81 {dollars} per barrel, the oil cartel knowledgeable in the present day on its web site.
On Wednesday, one barrel was promoting for 83.1 {dollars}.
To find out the value of OPEC oil, the so-called oil basket is used, together with 13 forms of oil for export by the cartel member international locations: Arab gentle (Saudi Arabia), Basra gentle (Iraq), Bonny gentle (Nigeria), Es Sider (Libya), Girasol (Angola), Iranian Heavy (Iran), Kuwait Export (Kuwait), Meray (Venezuela), Murban (UAE), Saharan Mix or “Saharan Mix” (Algeria), Rabi Gentle (Gabon), Jeno ( Congo) and Zafiro (Equatorial Guinea).
The all-time excessive for the “OPEC basket” was $140.73 per barrel recorded on July 3, 2008.
The value of a barrel of oil is decided by deriving an arithmetic imply worth from the quotations on the time of closing of commerce with all varieties from the “OPEC basket” the earlier working day, BTA reported.