OPEC Basket -- Error In Posting? Something Else? I Don't Know -- May 14, 2020

Later: this is clearly an error but it was interesting for a moment.

Original Post

 
We will have to sort this out tomorrow unless there's news tonight or a reader can explain it.

Re-posting:

OPEC basket: $17.00 -- at oilprice.com -- I can't find anything on this; not reflected at "official" OPEC website, where it still shows $23.25/bbl; this has to be in error, but it's unusual to see errors of this magnitude at oilprice.com; note Brent jumped almost 7%; here's the screenshot:

If this is accurate, it could be a "calendar"issue like the one that dropped WTI into negative territory.

I can't find anything over at Twitter to explain this. 

But it's interesting to speculate.

If accurate, do movers and shakers think that Saudi Arabia / OPEC+ won't be able to cut production? Is it possible that movers and shakers think that Saudi Arabia and Russia can't risk shutting in wells in old fields; risk losing the fields?

Saudi Arabia has a severe cash flow problem (previously posted) -- paying daily rates averaging $50,000/day or more for VLCCs / ULCCs with at least twenty of them off Long Beach Port with no plans to unload -- is Saudi Arabia looking to unload those VLCCs / ULCCs regardless of cost / loss?

I really don't know but a 30% drop in the OPEC basket has to be in error unless it can be explained.

Later: a reader commented - this is definitely an error. So, we'll see a correction first thing in the morning.