OPEC Reference Basket - definition. What is OPEC Reference Basket
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OPEC Reference Basket         
WEIGHTED AVERAGE OF PRICES FOR PETROLEUM BLENDS PRODUCED BY OPEC MEMBERS
OPEC basket
The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC members. It is used as an important benchmark for crude oil prices.
Reference work         
  • The ''[[Brockhaus Enzyklopädie]]'', the best-known traditional reference book in German-speaking countries
  • ''[[Encyclopædia Britannica]]'', 15th edition: volumes of the Propedia (green), Micropedia (red), Macropedia (black), and 2-volume Index (blue)
  • The ''[[Lexikon des Mittelalters]]'', a specialised German encyclopedia
PUBLICATION TO WHICH ONE CAN REFER FOR CONFIRMED FACTS
Reference works; Reference book; Reference textbooks; Reference texts; Reference books; Refernce textbooks; Reference document
A reference work is a work, such as a book or periodical (or their electronic equivalents), to which one can refer for information. The information is intended to be found quickly when needed.
Market basket         
COMMODITY BUNDLES, USED TO TRACK INFLATION
Basket of goods; Basket of products; Consumer basket; Basket of consumer goods; Commodity bundle; Market Basket
A market basket or commodity bundle is a fixed list of items, in given proportions. Its most common use is to track the progress of inflation in an economy or specific market.
أمثلة من مجموعة نصية لـ٪ 1
1. The OPEC reference basket comprises 11 types of main crude exports from each of its members and is usually $5 to $8 below New York’s light sweet crude.
2. The OPEC Reference Basket averaged more than 5 percent higher in the first week when it rallied $6.71 a barrel to settle at $138.31 a barrel to mark a record weekly high of $140.73 a barrel.