OPEC Daily Basket Price Now $86.54 Per Barrel

The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at $86.54 per barrel as of Monday, January 17.

This is compared with $85.46 per barrel of the previous Friday, according to OPEC Secretariat calculations obtained in Abuja as released by OPEC on Tuesday.

The OPEC Reference Basket of Crudes (ORB), introduced on June 16, 2005, is currently made up of the Saharan Blend (Algeria), Girassol (Angola), Bonny Light (Nigeria), Djeno (Congo) and Zafiro (Equatorial Guinea).

Others include Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).