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OPEC oil price decreases

Business Materials 25 July 2016 17:23 (UTC +04:00)
OPEC oil basket’s price stood at $41.71 per barrel on July 22, or $1.22 less than on July 21, the cartel told Trend July 25.
OPEC oil price decreases

Baku, Azerbaijan, July 25

By Maksim Tsurkov – Trend:

OPEC oil basket’s price stood at $41.71 per barrel on July 22, or $1.22 less than on July 21, the cartel told Trend July 25.

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 are decreasing on July 25.

Meanwhile, the price for September futures of the North Sea Brent oil mix decreased by 1.41 percent to $45.55 per barrel, while the price for September futures of WTI oil decreased by 1.59 percent to $44.04 per barrel on July 25 at 11:52 (UTC/GMT +4 hours).

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Follow the author on Twitter: @MaksimTsurkov

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