In the last twelve months, the price of a barrel of OPEC oil has increased by 91.95%.
From 2003 until now, $ 140.73 has been the highest price at which a barrel of crude oil has traded, on July 3, 2008, while on April 22, 2020, it was trading at $ 12.22 which was its minimum price in this period.
The OPEC basket is an average of the prices of oils produced by OPEC member countries and is used as a benchmark for oil prices.
OPEC is the Organization of Petroleum Exporting Countries, coordinates the oil policies of its member countries to influence the international oil market. The OPEC member countries are: Algeria, Angola, Ecuador, Gabon, Iraq, Iran, Qatar, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela and the United Arab Emirates
