The Organization of the Petroleum Exporting Countries (OPEC) has switched to Argus Media as its energy price data provider this year, dropping global pricing service Platts. The producer group, which accounts for 40 percent of the world’s oil output, will use Argus’s prices for evaluation, analysis and reporting from Jan. 1, Argus said in a statement released late on Wednesday. The OPEC reference basket price, which values crude produced by the member countries, will be based on assessments from Argus, the company said. “We are pleased that OPEC has decided to move to Argus as its exclusive supplier of price data across all energy markets,” Argus Media chairman and publisher Adrian Binks said. “This is a sign of confidence in the quality of our price reporting.” OPEC’s […]