Baku, Azerbaijan, Aug. 17
By Maksim Tsurkov – Trend:
OPEC oil basket’s price stood at $45.03 per barrel on Aug. 16, or $1.11 more than on Aug. 15, the cartel told Trend Aug. 17.
The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
However, oil prices started to fall Aug. 17 amid the reports of the American Petroleum Institute (API) on crude stocks in the US.
The price for October futures of the North Sea Brent oil mix decreased by 0.85 percent to $48.81 per barrel, while the price for September futures of WTI oil decreased by 0.58 percent to $46.31 per barrel as of 11:51 (GMT+4 hours) Aug. 17.
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