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OPEC basket price down

Oil&Gas Materials 11 January 2017 16:03 (UTC +04:00)
OPEC oil basket’s price stood at $51.46 per barrel on Jan. 10, or $1.39 less than on Jan. 9.
OPEC basket price down

Baku, Azerbaijan, Jan. 11

By Anvar Mammadov – Trend:

OPEC oil basket’s price stood at $51.46 per barrel on Jan. 10, or $1.39 less than on Jan. 9, the cartel told Trend Jan. 11.

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).

Oil prices are increasing on Jan. 11 against the background of reduction in oil deliveries by OPEC countries.

The price for March futures of the North Sea Brent oil mix increased by 0.65 percent up to $53.99 per barrel, while the price for February futures of WTI oil increased by 0.61 percent up to $51.13 per barrel as of 15:03 (GMT+4 hours) Jan. 11.

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