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This statistic illustrates the monthly average crude oil prices of the OPEC (Organization of Petroleum Exporting Countries) basket for the period between April 2011 and April 2012. The OPEC basket is a weighted average of prices for petroleum blends produced by OPEC countries. It is used as an important benchmark for crude oil prices. In January 2012, the average price of the OPEC basket was at approximately 111.76 U.S. dollars per barrel.