OPEC Basket Crude Surges to Record $87 Per Barrel, Basra Crude Prices Dip
Shafaq News/ The Organization of the Petroleum Exporting Countries (OPEC) announced on Wednesday that its basket of crude oils witnessed a significant surge, reaching a record high of more than $87 per barrel. However, the prices of Basra crude experienced a decline during the same period.
In a report accessed by Shafaq News Agency, OPEC disclosed that the price of its basket, consisting of 13 barrels of crude oil, reached $87.10 per barrel. This marked an increase of 21 cents from the previous day's value, which stood at $86.89.
The prices of Basra Heavy crude registered a decline of 70 cents, settling at $82.58. Additionally, Basra Medium crude also experienced a dip of 70 cents, ending at $85.63.
The Organization of the Petroleum Exporting Countries (OPEC) reference basket consists of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basra Light ( Iraq), Kuwait Export (Kuwait), S Sidr (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
