OPEC Reference Basket
Urals oil (Russian export mix)
OPEC Basket Price
The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a
Brent crude oil, and West Texas Intermediate
crude oil.
Since January 1, 2017, the OPEC reference basket consists of a weighted average of the following crudes:[1]
- Saharan Blend (from Algeria)
- Girassol (from Angola)
- Oriente (from Ecuador)
- Rabi Light (from Gabon)
- Iran Heavy (from Iran)
- Basra Light (from Iraq)
- Kuwait Export (from Kuwait)
- Es Sider (from Libya)
- Bonny Light (from Nigeria)
- Qatar Marine (from Qatar)
- Arab Light (from Saudi Arabia)
- Murban (from UAE)
- Merey (from Venezuela)
Old line-up
Prior to June 16, 2005, the OPEC Basket did not include petroleum blends from all OPEC members. The earlier basket consisted of seven crudes:[2][3]
- Saharan Blend (from Algeria)
- Minas (from Indonesia)
- Isthmus (from Mexico, a non-OPEC country)
- Bonny Light (from Nigeria)
- Arab Light (from Saudi Arabia)
- Fateh (from Dubai, UAE)
- Tia Juana Light (from Venezuela)
References
- ^ "OPEC Basket Price". OPEC. Retrieved January 6, 2017.
- ^ "Composition of the new OPEC Reference Basket" (Press release). OPEC. June 15, 2005. Retrieved June 29, 2016.
- ^ "Pricing Differences Among Various Types of Crude Oil". EIA. July 2006. Archived from the original on November 13, 2010.
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