OPEC Daily Basket Price Reaches $78.03 a Barrel on Friday

As of December 15, 2023, the price of the OPEC basket of 13 crudes was $78.03 per barrel, an increase from the previous day’s price of $76.77. The OPEC Reference Basket of Crudes (ORB) comprises a variety of crude oils from OPEC member countries, reflecting the diverse types and grades of oil produced by these nations.

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The ORB includes Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela). The OPEC basket price serves as a reference for the global oil market.