OPEC Reference Basket

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The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC countries. It is used as an important benchmark for crude oil prices. OPEC attempts to keep the price of the OPEC Basket between upper and lower limits, by increasing and decreasing production. This makes the measure important for market analysts. The OPEC Basket, including a mix of light and heavy crudes, is heavier than both Brent crude oil, and West Texas Intermediate crude oil.

Since January 1, 2016, the OPEC reference basket consists of a weighted average of the following crudes:[1]

Previous line-ups[edit]

Prior to 15 June 2005, the OPEC Basket consisted of the following:

Previously, from June 15, 2005 to December 31, 2015, the OPEC basket consisted of a weighted average of the following blends of oil:

References[edit]

  1. ^ "OPEC Basket Price". OPEC. Retrieved 2015-01-05. 
  2. ^ "About OPEC". OPEC. Retrieved 2012-01-22. 

External links[edit]