OPEC daily basket price stands at 45.01 USD per barrel

Source: Xinhua | 2020-08-12

The Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at 45.01 U.S. dollars a barrel on Monday, compared with 44.87 dollars per barrel on Friday, according to OPEC Secretariat calculations released 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.