OPEC daily basket price increases to 44.02 USD per barrel Aug 04, 2020

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OPEC daily basket price increases to 44.02 USD per barrel Aug 04, 2020

ISLAMABAD-VIENNA,The Organization of the Petroleum Exporting Countries (OPEC) daily basket price increased to 44.02 U.S. dollars a barrel on Monday, compared with 43.02 dollars on Friday, according to OPEC Secretariat calculations released Tuesday.

Also known as the OPEC reference basket of crude oil, the OPEC basket, a weighted average of oil prices from different OPEC members around the world, is used as an important benchmark for crude oil prices.(xinhua/app)