VOL. XLIII

No. 30

24-July-2000

OPEC

PIRA Report On OPEC Basket

The benchmark OPEC Basket of crudes does not accurately mirror the actual output of OPEC countries and is in fact significantly lighter and sweeter than actual OPEC production, according to PIRA Energy Group, the New York-based international energy consultancy. This discrepancy, says PIRA, can amplify price movements that reflect widening light/heavy and sweet/sour spreads.

In a recent report PIRA argues that, compared with the actual...