Baku, Azerbaijan, Dec.6
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $51.32 a barrel on Dec.5, compared with $50.49 on Dec.2, 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).
World oil prices are declining Dec.6 after reaching the maximum level for the first time since July 2015.
The price of February futures for Brent crude oil dropped by 0.20 percent and stood at $54.83 per barrel as of 05:08 EST Dec.6. This is while the price of January futures for the West Texas Intermediate (WTI) oil decreased by 0.56 percent to $51.50 per barrel.