Price of OPEC daily basket closes at $121.54 per barrel

Adebayo Obajemu

According to reports, the price of OPEC basket of thirteen crudes was at $121.54 a barrel on Wednesday, compared with $120.16 the previous day, going by OPEC Secretariat calculations.

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).