Baku, Azerbaijan, April 4
By Maksim Tsurkov - Trend:
OPEC oil basket's price stood at $34.47 per barrel on April 1, or $0.14 more than on March 31, the cartel told Trend April 4.
OPEC oil basket's average price increased by 20.7 percent in March, amounting to $34.65 compared to $28.72 in February.
OPEC oil basket's average price amounts to $30.23 in 2016 (compared to $49.49 in 2015).
The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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).
The global oil prices continue falling April 4.
Mohammad bin Salman, the crown prince (second in line for the throne) and defense minister of Saudi Arabia made some statements. These statements intensified skepticism of markets over the upcoming meeting of the largest oil producers regarding the possible freezing of production at the level of January.
The price for June futures of the North Sea Brent oil mix decreased by 0.41 percent - up to $38.51 per barrel, while the price of May futures for WTI oil decreased by 0.82 percent - up to $36.49 per barrel April 4 as of 12:08 (UTC/GMT+4 hours).