Nigeria- The Organization of Petroleum Exporting Countries' oil basket price on Feb 3. stood at $51.77 compared with $48.19 the previous day, the organization’s website says.
On Jan 30, the price of OPEC basket of twelve crude oils was $44.83.
OPEC’s oil basket is currently made up of the Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
OPEC’s oil basket price was $107.89 in mid-June, but has been in dramatic decline, especially since October.
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