OPEC daily oil price increases to 18.36 USD per barrel

Source: Xinhua | 2020-05-06

The Organization of the Petroleum Exporting Countries (OPEC) daily basket price increased to 18.36 U.S. dollars a barrel on Monday, compared with 16.52 dollars on last Friday, according to OPEC Secretariat calculations released on Tuesday.

Also known as the OPEC reference basket of crude oil, the OPEC basket, a weighted average of oil prices from different OPEC members around the world, is used as an important benchmark for crude oil prices.