OPEC’s Oil Basket Hits 13-year Low

Price for a basket of crudes from OPEC producers fell by 4.7% to $23.58 a barrel on Monday from $24.74 in the previous trading day, the organization said.

According to OPEC, last time the price of oil was at slighter lower level was April 29, 2003, when a barrel was worth $23.27, UNIAN.

In 2014, the average price for a "basket" was $96.23 a barrel, in 2013 – $105.57, in 2012 – $109.74, in 2011 – $107.46, in 2010 – $77.45 a barrel.

The record price for a "basket" was set on July 3, 2008 – $140.73 a barrel.

OPEC's Reference Basket of Crudes (ORB) is made up of: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), Iran Heavy, Basra Light (Iraq), Kuwait Export , Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine, Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).