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The price of OPEC basket rose to $62.60 a barrel

Category: Economy

Date: 2021-02-16T11:39:56+0000
The price of OPEC basket rose to $62.60 a barrel

Shafaq News/ The price of OPEC basket of thirteen crudes rose to 62.60$ a barrel on Tuesday, compared with $60.77 the previous day, according to OPEC Secretariat calculations.

Experts said OPEC prices increased due to the deep freeze across the United States which is taking a toll on the energy industry in the largest U.S. crude-producing state, halting Texas oil wells and refineries and forcing restrictions from natural gas and crude pipeline operators.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

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