OPEC’s daily basket oil price slumps to below $17 a barrel

The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday its daily basket oil price fell to $16.87 a barrel on April 1, down from $22.61 the previous day.

The basket includes Algeria’s Saharan Blend, Angola’s Girassol, Congo’s Djeno, Equatorial Guinea’s Zafiro, Gabon’s Rabi Light and Iran Heavy.

Iraq’s Basra Light, Kuwait Export, Libya’s Es Sider, Nigeria’s Bonny Light, Saudi’s Arab Light, the UAE’s Murban and Venezuela’s Merey are also included.  Reuters