CORRECT: OPEC Daily Basket Up 83 Cents At $76.21/Bbl Monday -
OPEC
("OPEC Daily Basket Up 83c At $76.21/Bbl Monday - OPEC," at 1155 GMT,
misstated the difference in the daily basket price in the first paragraph. The
correct version follows:)
LONDON -(Dow Jones)- The Organization of Petroleum Exporting Countries pegged
the value of its reference basket of 12 crude oils at $76.21 a barrel Monday, up
83 cents from $75.38 a barrel Friday, OPEC said Tuesday.
OPEC's basket of 12 oils consists of Saharan Blend, Girassol, Oriente, Iran
Heavy, Basra Light, Kuwait Export, Es Sider, Bonny Light, Qatar Marine, Arab
Light, Murban and Merey.
The basket isn't used to set any oil prices in the market, but it does give a
picture of the value of OPEC's output.
OPEC devised a new basket after members complained the old basket overstated
the value of the group's output. They pushed for a basket that better
represented grades that are higher in sulfur and, as such, cheaper.
On Jan. 30, 2005, OPEC suspended its official price band of $22-$28 a barrel
because concerns about global stability pushed oil prices up sharply, rendering
it irrelevant.
Below is a table of the daily OPEC basket price for the past 19 trading days:
Date New Daily OPEC Basket Price
30-11-09$76.21
27-11/09 $75.3826-11-09$75.96
25-11/09 $75.6724-11-09$75.2223-11-09$76.72 (r)
20-11-09$75.77 (r)
19-11-09$76.7718-11-09$77.8717-11-09$76.9716-11-09$76.4913-11-09$75.2612-11-09$76.0611-11-09$76.8910-11-09$76.5009-11-09$76.5706-11-09$76.2505-11-09$77.4504-11-09$77.45
-By Angela Henshall, Dow Jones Newswires; +44(0)20-7842-9285; angela.henshall@
dowjones.com
(END) Dow Jones Newswires
12-01-090701ET
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