Baku, Azerbaijan, Nov.2
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $44.53 a barrel on Nov.1, compared with $45.83 the previous day, according to the cartel’s website.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: 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).
Crude oil prices fell for a fourth day on Nov.2, as jittery investors awaited official US stockpile figures later in the day after industry data showed a surprise build in inventories, underlining a persistent global glut.
The American Petroleum Institute said crude stockpiles rose by 9.3 million barrels in the week to Oct. 28.