Baku, Azerbaijan, Dec.23
By Dalga Khatinoglu - Trend:
OPEC oil basket price increased to $56.9 on Dec.22 compared to $55.52 on Dec.19, OPEC's website reported.
OPEC oil basket is currently made up of the Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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).
OPEC oil basket price was $107.89 in mid-June, but has been in dramatic decline, especially after October.
On the other hand, oil prices slid back close to opening levels around $60.20 per barrel Dec.23, Reuters reported.
U.S. WTI crude CLc1 futures rose to $56.85 a barrel before dipping back to $55.67 at 07.45 a.m. Brent crude LCOc1 increased by 9 cents at $60.20 a barrel.
Price rises of Dec.22 followed a volatile session Dec.21, when Brent prices first jumped to almost $63 a barrel on the back of strong international market performances before sliding back not over than $60 after Saudi Arabia's powerful oil minister said that OPEC would not cut production at any price.