A Review of the Nigerian Energy Industry

OPEC daily basket oil price closes at $59.48 per barrel

*The Organisation of the Petroleum Exporting Countries, OPEC. headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger

11 January 2019, Sweetcrude, Vienna, Austria – The price of OPEC basket of fourteen crudes stood at $59.48 a barrel on Thursday, compared with $58.24 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), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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