OPEC Basket Price
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The new OPEC Reference Basket (ORB)
Introduced on 16 June 2005, is currently made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
- As of January 2006: The Weekly, Monthly, Quarterly & Yearly averages are based on daily quotations.
- As of January 2007: The basket price includes the Angolan crude "Girassol".
- As of 19 October 2007: The basket price includes the Ecuadorean crude "Oriente".
- As of January 2009: The basket price excludes the Indonesian crude "Minas".
- As of January 2009: The Venezuelan crude "BCF-17" was replaced by the crude "Merey".
- As of January 2016: The basket price includes the Indonesian crude "Minas".
- As of July 2016: The basket price includes the Gabonese crude "Rabi Light".