A Review of the Nigerian Energy Industry

OPEC daily basket crude price closes at $71.36 per barrel

*The Organization of the Petroleum Exporting Countries, OPEC, headquarters in Vienna, Austria. REUTERS/Heinz-Peter Bader.

05 November 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $71.36 a barrel on Friday, compared with $72.64 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), Djeno (Congo), 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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