OPEC daily oil price rises to $28.21 per barrel

21 May, 2020 12:00 AM printer

VIENNA: The Organization of the Petroleum Exporting Countries (OPEC)'s daily basket price increased to 28.21 U.S. dollars a barrel on Monday, compared with 26.54 dollars on Friday, according to OPEC Secretariat calculations released on 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, reports Xinhua.