A Review of the Nigerian Energy Industry

OPEC daily basket oil price closes at $70.63 per barrel

*Headquarters of the Organization of Petroleum Exporting Countries, OPEC, Vienna, Austria.

08 November 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $70.63 a barrel on Wednesday, compared with $70.88 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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