Business World

Oil: OPEC barrel drops below $ 100

The OPEC basket price of oil (OPEC Reference Basket of crudes) dropped the first Friday in June of $ 3.62 (-3.6%), from 101.06 dollars a barrel, to 97.44 dollars a barrel on March 31, reported organization in a statement.

In January 2012, the average price of a barrel of OPEC totaled $ 111.76 in February – to $ 117.48 in March – to $ 122.93 in April – to $ 118.18 and May – $ 108.07.

The average price of a barrel of OPEC was 107.46 in 2011 dollars and 77.45 dollars in 2010. On 3 July 2008, the oil basket price of the organization has reached 140.73 dollars a barrel, a record.

The OPEC basket price of oil is calculated as the arithmetic mean of prices of several raw, namely Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Lybia), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and BCF 17 (Venezuela).

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