OPEC Basket Price Today - Live Reference Basket Data
Access real-time OPEC Reference Basket pricing data through our professional API. Track the weighted average of crude oil exports from all 13 OPEC member nations.
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Daily Updates
OPEC Basket prices updated daily from official OPEC sources
13 OPEC Members
Weighted average representing all OPEC member country crude exports
API Integration
Simple REST API with comprehensive documentation and code examples
OPEC Reference Basket Crude Grades
The OPEC Basket includes the following crude oil grades from member countries:
About the OPEC Reference Basket
What is the OPEC Basket?
The OPEC Reference Basket (ORB) is a weighted average of prices for petroleum blends produced by OPEC member countries. Introduced in 2005, it serves as a key benchmark for OPEC's pricing and production decisions.
Why Track OPEC Basket Prices?
- Key indicator of OPEC revenue and production decisions
- Broader market indicator than single crude benchmarks
- Essential for energy market analysis and forecasting
Frequently Asked Questions About OPEC Basket Price
What is the current OPEC Basket price?
The current OPEC Reference Basket price is $0.00 per barrel, updated 0 minutes ago. This represents the weighted average price of petroleum blends from the 13 OPEC member countries.
How is the OPEC Basket price calculated?
The OPEC Reference Basket price is calculated as a weighted average of prices of the main export crude oil grades produced by OPEC member countries. Each crude grade is weighted according to its production and export volumes.
How does OPEC Basket compare to Brent and WTI?
The OPEC Basket typically trades at a slight discount to Brent crude because it includes heavier and sourer crude grades. While Brent and WTI are single crude oil benchmarks, the OPEC Basket represents an average of multiple crude grades from different OPEC members.
Why is the OPEC Basket important for energy markets?
The OPEC Basket is crucial because it:
- Guides OPEC Policy: Influences production quota decisions
- Revenue Indicator: Shows average OPEC member revenue per barrel
- Market Breadth: Represents diverse crude qualities and origins
- Global Supply: OPEC controls ~40% of world oil production
Integrate Live OPEC Basket Data
Get the same real-time OPEC Reference Basket price data powering this page. Start with a free API key and scale as your business grows.
curl https://api.oilpriceapi.com/v1/prices/latest \ -d 'by_code=OPEC_BASKET_USD' \ -H 'Authorization: Token YOUR_API_KEY'