A Review of the Nigerian Energy Industry

OPEC daily basket price for Wednesday closes at $75.47/b

*The OPEC headquarters in Vienna, Austria. REUTERS/Leonhard Foeger.

16 May 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $75.47 a barrel on Tuesday, compared with $74.20 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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