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OPEC's daily basket oil price slumps to below $17 a barrel

Published 02/04/2020, 11:17
Updated 02/04/2020, 11:20
© Reuters. FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

© Reuters. FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

LONDON (Reuters) - The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday its daily basket oil price fell to $16.87 a barrel on April 1, down from $22.61 the previous day.

The basket includes Algeria's Saharan Blend, Angola's Girassol, Congo's Djeno, Equatorial Guinea's Zafiro, Gabon's Rabi Light and Iran Heavy.

© Reuters. FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters in Vienna

Iraq's Basra Light, Kuwait Export, Libya's Es Sider, Nigeria's Bonny Light, Saudi's Arab Light, the UAE's Murban and Venezuela's Merey are also included.

Latest comments

It will be a while before they decide to cut after reaching a deal. Even, they announce today, there will be a while before the cut gets implemented. Just like how they decided to pump more into the market last month.
its inching back up again on the back of Trumps announcement
let them to against each other because it´s chance for us.
Saudi Arabia...... Oil will be $60 by Sept you Guys buy 10000 litre and keep in bath room
2 years Yes sept 30% chance
Bindi, ciuld you share the source of this information? where did you read it?
$5000 says otherwise. Absolute record cratering in demand will not be resolced by september and storage amounts will be at all all time highs - price will not rise materially until demand outstrips supply and inventory is drawn down, this is impossible by september - the us may still be locked down then.
Russia and Saudi... should come to the table and discuss .... they re holding all others hostage
Let Russia and Saudi talk.. Trump pls don't get involved...noob
Pointless. Let Putin and Saudi fit down and prices will shoot up to Mars... and beyond.
patience....after these 17 USD...next stop in 5 years aprox...Will be 210.
não seria de admirar..
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