The Azerbaijan State News Agency

ECONOMY

OPEC BASKET RISES AGAIN

The price of OPEC's basket of seven crudes improved to 30.11 dollars a barrel last week, compared with 29.53 dollars in the last week of December.

According to figures released by the OPEC Secretariat, for the month of December, the basket price averaged 29.44 dollars a barrel, as opposed to 28.45 dollars in November, and 28.54 dollars in October.

For the fourth quarter of last year, the basket price averaged 28.86 dollars a barrel, as against 27.38 dollars in the third quarter.

The price of the basket in 2003 averaged 28.10 dollars a barrel, compared with 24.36 dollars the previous year.

The OPEC basket comprises Algeria's Saharan Blend, Indonesia's Minas, Nigeria's Bonny Light, Saudi Arabia's Arabian Light, Dubai of the United Arab Emirates, Venezuela's Tia Juana, and Mexico's Isthmus crude.

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