The OPEC reference basket is currently made up of how many crude oils?
The OPEC reference basket is currently made up of how many crude oils?
[A]Eight
[B]Twelve
[C]Ten
[D]Fifteen
Twelve
The OPEC Reference Basket (ORB) is a weighted average of prices for petroleum blends produced by OPEC countries. It is used as an important benchmark for crude oil prices. The Reference Basket currently consists of a weighted average of the twelve crude oils. These are as follows Saharan Blend (from Algeria)Ecuador, Iran Heavy (from Islamic Republic of Iran), Basra Light (from Iraq), Kuwait Export (from Kuwait), Es Sider (from Libya), Bonny Light (from Nigeria), Qatar Marine (from Qatar), Arab Light (from Saudi Arabia), Murban (from UAE), BCF 17 (from Venezuela) and Girassol (from Angola). Reference