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Investments glossary

OPEC Basket

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Quotes of the day:

If we want a love message to be heard, it has to be sent out. To keep a lamp burning, we have to keep putting oil in it.

— Mother Teresa

The OPEC basket is a weighted average of oil prices from the different OPEC members around the world. Members of the Organization of the Petroleum Exporting Countries (OPEC) contribute data which forms the basis of the basket. The basket is a benchmark, or reference point, for those monitoring the price of oil and the stability of the global oil market.

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