The price of OPEC’s “basket” has established a new record
The price of OPEC’s oil “basket” has for the first time exceeded a mark of 95 doll./barr. As of February, 27th, it has made 95,20 doll./barr. and it became its new record.
In comparison with the last day “basket” has risen in price for 1,11 dollars, and the has exceeded previous record on 97 cents. We shall remind, that since February, 20th, 2008 historical maximum for oil “basket” was market at the rate of 94,23 doll./barr.
It is necessary to note, that from the beginning of week oil “basket” has officially risen in price already practically for 2 dollars.
The term OPEC’s “basket” (OPEC Reference Basket of crudes) has been officially entered on January, 1st 1987. Since September, 10th, 2007, the price of “basket” is defined as an average arithmetic parameter of the physical prices of following 12 grades of the oil extracting countries of cartel: Saharan Blend (Algeria), Girassol (Angola); Minas (Indonesia), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and BCF 17 (Venezuela).
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