2024-06-14 09:35:38
The common oil value of the Group of the Petroleum Exporting Nations (OPEC) yesterday jumped to 83.1 {dollars} per barrel, the oil cartel knowledgeable at the moment on its web site.
On Tuesday, one barrel was promoting for $82.36.
To find out the value of OPEC oil, the so-called oil basket is used, together with 13 sorts of oil for export by the cartel member nations: 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 Mild (Gabon), Jeno ( Congo) and Zafiro (Equatorial Guinea), writes BTA.
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 common worth from the quotations on the time of closing of commerce with all varieties from the “OPEC basket” the earlier working day.