By Teddy Nwanunobi
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crudes stood at $63.07 per barrel on Wednesday, the Organisation said on its website on Thursday.
The above price compared with $63.37 per barrel as at Tuesday, according to OPEC’s Secretariat calculations.
“The OPEC Reference Basket of Crudes (ORD) 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),” OPEC said.