6 June 2024 - 09:35
  • News ID: 642645
OPEC Announces Daily Basket Price

SHANA (Tehran) – OPEC Secretariat announced the price of OPEC basket of twelve crudes stood at $78.17 a barrel on June 3, compared with $81.30 the previous day.

The new OPEC Reference Basket (ORB) introduced on 16 June 2005, is currently made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

The 188th Meeting of the OPEC Conference, the 54th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM) were held on 2 June via videoconference.

In a press release at the end of OPEC+ ministerial meeting, the oil producing group reaffirmed its commitment to the Declaration of Cooperation (DoC) and decided to extend the level of overall crude oil production for OPEC and non-OPEC Participating Countries in the DoC into the next year.

OPEC+ was formed in 2016 and includes 12 OPEC members and 10 of the world's leading non-OPEC oil exporters, including Russia; representing about 41 percent of world oil production. 

News ID 642645


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