reference basket
The price of oil from the Organisation of Petroleum Exporting Countries (OPEC) inched above $105 per barrel over February. Though it had subsided to $103.75 a barrel by Wednesday (12 March), OPEC’s reference basket last month edged up by around 70 cents. The oil group’s monthly report released this week said this was a result […]
Oil prices simmered down during March, suggested new figures released by OPEC yesterday. The Organisation of Petroleum Exporting Countries said its reference basket – basically its benchmark price – “retreated” by more than 5% in March to an average of $106.44 per barrel (/b). This was put down to all grades of oil counted in […]
Growing optimism about the world economy’s recovery pushed up oil prices last month according to a monthly oil report from the Organisation of Petroleum Exporting Countries (OPEC). The Middle Eastern group’s reference basket – their average benchmark for prices – rose to an average of $112.75 per barrel in February, an increase of $3.47/b or […]