The average oil price of the Organization of the Petroleum Exporting Countries (OPEC) fell yesterday to $ 75.19 a barrel, the oil cartel said on its website.

On Monday, one barrel sold for $76.88.

To determine the price of OPEC oil is used so-called. An oil basket including 13 oil varieties for the cartel's member countries: Lek Arab (Saudi Arabia), Basra Lek (Iraq), Bonnie Lek (Nigeria), Es Sider (Libya), Girassol (Angola), Iranian Heavy (Iran), Kuwait Exports (Kuwait), Merei (Venezuela), Urban (UAE), Saharan Blend or Saharan Mixture (Algeria), Rabbi Lek (Gabon), Geno (Congo) and Zafiro (Equatorial Guinea).

OPEC oil breaks above $76 a barrel

The historical maximum for the "OPEC basket" is the price of $ 140.73 per barrel, reported on July 3, 2008.

The price of a barrel of oil is determined by deriving the arithmetic average from the quotes at the time of closing trade in all varieties of the "OPEC basket" the previous working day.


Oil price