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Investments glossary

OPEC Basket


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Civilization is drugs, alcohol, engines of war, prostitution, machines and machine slaves, low wages, bad food, bad taste, prisons, reformatories, lunatic asylums, divorce, perversion, brutal sports, suicides, infanticide, cinema, quackery, demagogy, strikes, lockouts, revolutions, putsches, colonization, electric chairs, guillotines, sabotage, floods, famine, disease, gangsters, money barons, horse racing, fashion shows, poodle dogs, chow dogs, Siamese cats, condoms, peccaries, syphilis, gonorrhea, insanity, neuroses, etc., etc.

— Henry Miller

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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