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Weighted average benchmark of crude oil prices from OPEC members
The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC members. It
OPEC_Reference_Basket
Spot price of a barrel of benchmark crude oil
oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis
Price_of_oil
Reference price for trading of an oil commodity
Blend, and Dubai Crude. Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Western Canadian
Benchmark_(crude_oil)
OAPEC petroleum embargo
Countries (OPEC), was founded by five oil producing countries at a Baghdad conference on 14 September 1960. The five founding members of OPEC were Venezuela
1973_oil_crisis
Grade of crude oil used as a benchmark in oil pricing
markers include the Dubai crude, Oman crude, Urals oil, and the OPEC reference basket. WTI is lighter and sweeter, containing less sulfur than Brent,
West_Texas_Intermediate
Classification of crude oil that serves as a major worldwide benchmark price
other well-known classifications (also called references or benchmarks) are the OPEC Reference Basket, Dubai Crude, Oman Crude, Shanghai Crude, Urals
Brent_Crude
1975 hostage crisis in Vienna, Austria
semi-annual meeting of OPEC leaders in Vienna, Austria; they took more than 60 hostages after killing an Austrian policeman, an Iraqi OPEC security officer
OPEC_siege
on 27 March 2026. Retrieved 7 April 2026. "2025 OPEC Annual Statistical Bulletin" (PDF). opec.org. OPEC. 4 July 2025. p. 34. Archived (PDF) from the original
2026_Iran_war_fuel_crisis
International petroleum organization
delivery date and location, and other legal requirements. The OPEC Reference Basket of Crudes has been an important benchmark for oil prices since 2000
OPEC
Sour crude oil produced in Mexico
Before 2017, the oil was a component of the OPEC Reference Basket (despite Mexico's not being a part of OPEC). It has the following characteristics: Mexico
Isthmus-34_Light
2026 geopolitical and economic crisis
over inflation and potential economic downturns in oil-importing nations. OPEC+ pledged to increase oil output by 206,000 barrels per day to mitigate shortages
2026_Strait_of_Hormuz_crisis
Oil prices OPEC Reference Basket Dubai Crude Brent Crude West Texas Intermediate
Economic impact of the 2026 Iran war
Economic_impact_of_the_2026_Iran_war
Petroleum Exporting Countries (OPEC), based on the organization's official publications.[needs update] The secretary general is OPEC's chief executive officer
List of secretaries general of OPEC
List_of_secretaries_general_of_OPEC
statistics on this page are disputed and controversial — different sources (like OPEC, CIA World Factbook and oil companies) give different figures. Some of the
List of countries by proven oil reserves
List_of_countries_by_proven_oil_reserves
Intergovernmental development finance institution
The OPEC Fund for International Development (OPEC Fund) is an intergovernmental development finance institution established in 1976 by the member states
OPEC Fund for International Development
OPEC_Fund_for_International_Development
Financial asset backed by a country's revenues from petroleum exports
are popular shorthand for revenues from petroleum exports, mainly from the OPEC members plus Russia and Norway. Especially during periods of historically
Petrocurrency
Significant surplus of crude oil
preeminent position, and by 1981, its production was surpassed by non-OPEC countries. OPEC had seen its share of the world market drop to less than a third
1980s_oil_glut
Crude oil price index
Indian Basket (IB), also known as Indian Crude Basket, is weighted average of Dubai and Oman (sour) and the Brent Crude (sweet) crude oil prices. It is
Indian_Basket
Saudi Arabian state-owned petroleum and oil-trade company
Archived from the original on 10 July 2016. Retrieved 16 December 2020. OPEC, Annual Statistical Bulletin 2016 Archived 21 August 2018 at the Wayback
Saudi_Aramco
Borehole in Russia, deepest on Earth
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Kola_Superdeep_Borehole
British multinational oil and gas company
226–7. ISBN 978-0810862883. Garavini, Giuliano (2019). The Rise and Fall of OPEC in the Twentieth Century. Oxford University Press. p. 14. ISBN 978-0-19-883283-6
Shell_plc
Worldwide increase in crude oil prices following the Iranian Revolution
percent drop in worldwide production. OPEC production was surpassed by other exporters such as the United States, as OPEC member nations were divided amongst
1979_oil_crisis
Naturally occurring combustible liquid
used as a reference for light Far East oil). Minas (from Indonesia, used as a reference for heavy Far East oil). The OPEC Reference Basket, a weighted
Petroleum
Drive for a reciprocating piston pump in an oil well
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Pumpjack
Products ultimately derived from crude oil
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Petroleum_product
Canadian oil and gas company
Countries, the oil market collapsed into a bear market. While the decision by OPEC to "hold their production steady at 30 million bpd" contributed to the continued
Connacher_Oil_and_Gas
French multinational energy and petroleum company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
TotalEnergies
$5 to $6 above the EIA's Imported Refiner Acquisition Cost (IRAC) and OPEC Basket prices. WTI and Brent are quoted FOB specific locations, not FOB the
List_of_crude_oil_products
Oil price pre-1980
between OPEC's posted price and the market price of oil. The following table shows variations in the posted price and the revenue received by OPEC countries
Posted_oil_price
US Republican Party political slogan
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Drill,_baby,_drill
Oil reserves located in Venezuela
Retrieved 2008-01-05. "OPEC Facts and figures". Archived from the original on February 21, 2010. Retrieved 13 March 2010. OPEC data at opec.org EIA data Archived
Oil_reserves_in_Venezuela
Oversupply of oil in the 2010s
Implications For 2016". Forbes. Retrieved 29 December 2015. "OPEC Basket Daily Archives". OPEC. Retrieved 21 May 2016. "Market Insider Daily Archives". Business
2010s_oil_glut
U.K.-domiciled energy company
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TechnipFMC
Marginal sea of the Atlantic Ocean
sites. This was compared with a 52% to 48% male-female ratio found in reference sites, showing impaired reproductive output for fish populations inhabiting
Gulf_of_Mexico
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List of oilfield service companies
List_of_oilfield_service_companies
Field in geology
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Petroleum_geology
Type of petroleum
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Sweet_crude_oil
Nigerian business magnate (1958–2021)
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Hosa_Wells_Okunbo
British multinational oil and gas company
countries that belonged to the Organization of Petroleum Exporting Countries (OPEC), and prompted it to diversify its operations beyond the heavily Middle East
BP
Canadian oil refinery in Saint John, New Brunswick
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Irving_Oil_Refinery
Fracturing bedrock by pressurized liquid
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Fracking
Worldwide crisis affected by shortage of energy supplies
largely continued to operate. In October 2022, OPEC+ cut oil production by two million barrels per day. OPEC+ claimed it is trying to prevent price volatility
2020s_energy_crisis
American multinational oil and gas company
operating divisions. These divisions are grouped into three categories for reference purposes, though the company also has several standalone divisions, such
ExxonMobil
Russian oil refinery located in Perm
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Perm_refinery
American multinational energy corporation
Caines, Roger F. Haycock, John E. Hillier (2004) Automotive Lubricants Reference Book; John Wiley & Sons; see p70/737 "Number of Chevron locations in the
Chevron_Corporation
Oil reserves located in Russia
2018). "OPEC Oil Production Dips Despite Surge in Saudi Arabia's Output". The Wall Street Journal. London. Retrieved 14 December 2018. The OPEC report
Oil_reserves_in_Russia
Company in project management, engineering, and construction for the energy industry
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Technip
Malaysian state-owned oil and gas company
and an oil embargo by the Organization of Petroleum Exporting Countries (OPEC) caused the price per barrel to rise to US$12.00, which further incentivised
Petronas
Oilfield services company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
SLB
International spending of petroleum export revenues
refers to the phenomenon of major petroleum-exporting states, mainly the OPEC members plus Russia and Norway, earning more money from the export of crude
Petrodollar_recycling
Largest publicly traded companies
oil-producing governments to take the initial steps to establish OPEC. The Seven Sisters threatened the OPEC founders that they would lose market access if they went
Big_Oil
Oil companies of Japan
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Eneos
Hungarian Oil and Gas Public Limited Company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
MOL_(company)
move towards the establishment of OPEC by approaching Iran, Gabon, Libya, Kuwait and Saudi Arabia in 1949, but OPEC was not set up until 1960, when the
Petroleum_politics
Indian crude oil and natural gas producer
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Oil and Natural Gas Corporation
Oil_and_Natural_Gas_Corporation
Mediterranean sea in West Asia
From Ancient Times to the Present. London, UK: Routledge – via Credo Reference. Global Agrifood Implications of the 2026 Conflict in the Middle East
Persian_Gulf
Economic sanction following the Russian invasion of Ukraine
its roughly 10m bpd comes into the OPEC+ number of around 40m bpd in 2022. Some OPEC delegates attending an OPEC meeting in Vienna on 4 December 2022
2022 Russian crude oil price cap sanctions
2022_Russian_crude_oil_price_cap_sanctions
Canadian integrated oil and natural gas company
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Cenovus_Energy
Attempt to drill through Earth's crust
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Project_Mohole
Italian multinational energy company
October 1973, after the Yom Kippur War and the OPEC embargo against the United States and the Netherlands by OPEC members and Arab countries, a serious oil
Eni
- Oil Producer OPITO – offshore petroleum industry training organization OPEC – Organization of Petroleum Exporting Countries OPL – operations log OPRES
List of abbreviations in oil and gas exploration and production
List_of_abbreviations_in_oil_and_gas_exploration_and_production
2015 pipeline leak on the coast of California
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Refugio_oil_spill
British multinational engineering and consulting company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
John_Wood_Group
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Natural_gas_in_Bangladesh
Chinese oil producer
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
PetroChina
Decline in oil production
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Oil_depletion
Assembly of flow-regulating valves
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Christmas_tree_(oil_well)
Medium sour crude oil
West Texas Intermediate Brent Crude Urals oil (Russian export mix) Dubai Crude OPEC Reference Basket
Dubai_Crude
National Iraqi company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Basra_Oil_Company
Sixfold rise in oil prices, peaking in 2008
improvements in shale "fracking" technology. By January 2016, the OPEC Reference Basket fell to US$22.48/bbl – less than one-sixth of its record from July
2000s_energy_crisis
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Petroleum_industry_in_Guyana
Not-for-profit professional organization
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Society of Petroleum Engineers
Society_of_Petroleum_Engineers
Highly viscous liquid fossil fuel
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Heavy_crude_oil
Canadian businessman (1899–1992)
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K._C._Irving
Sector of the oil and gas industry
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Upstream_(petroleum_industry)
U.S. energy company
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NOV_Inc.
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List of oil exploration and production companies
List_of_oil_exploration_and_production_companies
Portuguese petroleum company
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Galp_Energia
Type of computer modelling
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Integrated_asset_modelling
Uncontrolled release of crude oil and/or natural gas from a well
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Blowout_(well_drilling)
Organic-rich fine-grained sedimentary rock containing kerogen
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Oil_shale
Largest oil field in China
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Daqing_Oil_Field
Removal of petroleum from the earth
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Extraction_of_petroleum
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List of countries by energy consumption per capita
List_of_countries_by_energy_consumption_per_capita
Company that supplies the subsea oil and gas market
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OneSubsea
Thai state-owned oil and gas company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
PTT_Public_Company_Limited
Oil and gas field in east Texas
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East_Texas_Oil_Field
See: Wikipedia Pico Canyon Oilfield article, with extensive notes and references. Lee, Don (2024-08-02). "Chevron, after 145 years in California, is relocating
History of oil in California through 1930
History_of_oil_in_California_through_1930
Confiscation of oil production
reserves of OPEC countries and, subsequently, the rationalization of their world refining and distribution network to decrease their dependence on OPEC countries
Nationalization of oil supplies
Nationalization_of_oil_supplies
Defunct American oil company
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Superior_Oil_Company
Point in time when the maximum rate of petroleum extraction is reached
production. Analysts have suggested that OPEC member nations have economic incentives to exaggerate their reserves, as the OPEC quota system allows greater output
Peak_oil
Qatari state-owned oil company
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QatarEnergy
Intergovernmental organization
intend to create a gas cartel equivalent to OPEC which would set quotas and prices. The idea of a gas OPEC was first floated by Russian president Vladimir
Gas_Exporting_Countries_Forum
Method to increase oil production
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Water injection (oil production)
Water_injection_(oil_production)
American oil company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Gulf_Oil
Vietnamese state-owned oil company
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Petrovietnam
American oil and gas drilling contractor
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Nabors_Industries
Oil field in the Permian Basin of west Texas
Argus Sour Bonny Light Brent Dubai Indian Basket Indonesian Isthmus-34 Light Japan Cocktail OPEC Reference Basket Tapis Urals West Texas Intermediate Western
Yates_Oil_Field
Oil and gas industry of the US state of California
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California oil and gas industry
California_oil_and_gas_industry
Chinese major national oil and gas corporation
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China National Petroleum Corporation
China_National_Petroleum_Corporation
OPEC REFERENCE-BASKET
OPEC REFERENCE-BASKET
Girl/Female
Spanish
Reference to the Nativity.
Girl/Female
Hindu, Indian
First Preference
Girl/Female
Gujarati, Hindu, Indian, Kannada, Sanskrit
A Jewel or Precious Stone
Girl/Female
Indian
Inference
Girl/Female
Tamil
Worship, Praise, Reverence
Girl/Female
Spanish
Reference to the Incarnation.
Girl/Female
Spanish
Reference to the Nativity.
Boy/Male
Muslim
Reverence, Sanctity
Girl/Female
Tamil
Inference
Boy/Male
Indian
Selflessness, Preference
Girl/Female
Arabic, Muslim
Preference
Girl/Female
Spanish
Reference to the Ascension.
Girl/Female
Sanskrit
Jewel.
Boy/Male
Indian
Reverence, Sanctity
Girl/Female
Spanish
Reference to the Incarnation.
Boy/Male
Muslim
Selflessness, Preference
Girl/Female
Muslim
Selflessness, Preference
Girl/Female
Indian
Selflessness, Preference
Girl/Female
Spanish
Reference to the Incarnation.
Girl/Female
Hindu, Indian, Marathi, Sanskrit
Reverence; Esteem
OPEC REFERENCE-BASKET
OPEC REFERENCE-BASKET
Girl/Female
American, Australian, Hebrew, Irish
The Lord is Gracious
Female
Irish
Variant spelling of Irish Gaelic Muirgen, MUIRÃN means "born of the sea."
Boy/Male
Indian, Marathi
Dear
Boy/Male
Hindu, Indian
Brightness
Boy/Male
Tamil
Sampoorna | ஸஂபூரà¯à®£
Complete everything, Full
Boy/Male
Australian, Christian, Danish, French, German, Norse, Norwegian, Swedish, Teutonic
Victory; Protection; Victorious Defender; Victory Protector; Protector of Victory
Female
Portuguese
Portuguese form of Roman Latin Lucia, LÚCIA means "light."
Boy/Male
Hindu, Indian
Seasonal
Surname or Lastname
English
English : variant spelling of Higginbotham.
Surname or Lastname
English
English : habitational name for someone from a place in East Yorkshire called Wauldby (recorded in Domesday Book as Walbi ‘(village) on the wold’) or from Walby in Cumbria (‘(village) by the (Roman) wall’).
OPEC REFERENCE-BASKET
OPEC REFERENCE-BASKET
OPEC REFERENCE-BASKET
OPEC REFERENCE-BASKET
OPEC REFERENCE-BASKET
n.
A yielding of judgment or preference from respect to the wishes or opinion of another; submission in opinion; regard; respect; complaisance.
v. t.
To make or set open; to render free of access; to unclose; to unbar; to unlock; to remove any fastening or covering from; as, to open a door; to open a box; to open a room; to open a letter.
n.
The act of Preferring, or the state of being preferred; the setting of one thing before another; precedence; higher estimation; predilection; choice; also, the power or opportunity of choosing; as, to give him his preference.
v. t. & i.
To open.
v. t.
To enter upon; to begin; as, to open a discussion; to open fire upon an enemy; to open trade, or correspondence; to open a case in court, or a meeting.
n.
The act of referring, or the state of being referred; as, reference to a chart for guidance.
a.
Not drawn together, closed, or contracted; extended; expanded; as, an open hand; open arms; an open flower; an open prospect.
v. t.
To spread; to expand; as, to open the hand.
n.
That which refers to something; a specific direction of the attention; as, a reference in a text-book.
v. t.
To regard or treat with reverence; to regard with respect and affection mingled with fear; to venerate.
a.
Free or cleared of obstruction to progress or to view; accessible; as, an open tract; the open sea.
a.
Free; disengaged; unappropriated; as, to keep a day open for any purpose; to be open for an engagement.
imp. & p. p.
of Reverence
a.
Open.
n.
Open or unobstructed space; clear land, without trees or obstructions; open ocean; open water.
n.
That which deserves or exacts manifestations of reverence; reverend character; dignity; state.
n.
One who regards with reverence.
a.
Produced by an open string; as, an open tone.
n.
That which is preferred; the object of choice or superior favor; as, which is your preference?
a.
Not settled or adjusted; not decided or determined; not closed or withdrawn from consideration; as, an open account; an open question; to keep an offer or opportunity open.