Baku, Azerbaijan, March 1
By Leman Zeynalova – Trend:
The price of OPEC basket of thirteen crudes stood at $53.40 a barrel on Feb.28, compared with $53.85 the previous day, according to the cartel’s website.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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 going down on March 1. The price of May futures for Brent crude oil has dropped by 0.12 percent to $56.44 per barrel as of 03:09 EST.
Meanwhile, the price of April futures for West Texas Intermediate (WTI) oil has decreased by 0.26 percent and stood at $53.87 per barrel.
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