OPEC daily basket price stands at 29.03 USD per barrel

Source: Xinhua | 2020-05-29

The Organization of the Petroleum Exporting Countries' (OPEC) daily basket price stood at 29.03 U.S. dollars a barrel on Wednesday, compared with 29.75 dollars on Tuesday, according to OPEC Secretariat calculations released on Thursday.

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.