A Review of the Nigerian Energy Industry

OPEC daily basket price close at $54.44/b

*A person carrying an umbrella walks by the Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria. REUTERS/Heinz-Peter Bader.

13 October 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $54.44 a barrel on Thursday, compared with $54.54 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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