The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 101.04 dollars per barrel as at Wednesday.

This is compared with 106.41 dollars per barrel recorded on Tuesday, according to OPEC Secretariat calculations obtained by the News Agency of Nigeria (NAN), Abuja as released by OPEC on Thursday.

The OPEC Reference Basket of Crudes (ORB) comprises Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon) and Iran Heavy (Islamic Republic of Iran).

Others are Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey