OPEC oil price in verge of $61/barrel

Oil&Gas Materials 19 June 2015 15:39 (UTC +04:00)

Baku, Azerbaijan, June 19

By Umid Niayesh - Trend:

The OPEC oil basket price increased 28 cents to $60.55 per barrel on June 18.

However, the figure is $1.86 less than June 10, the Cartel's official website published on Friday.

OPEC members agreed to keep oil production ceiling unchanged at 30 million barrels per day during a meeting in Vienna on June 5.

A monthly report by OPEC said the organization's output was 30.975 million barrels per day in May.

This is while according to OPEC's own evaluation the demand for the organization's oil is 29.3 million barrels per day for 2015.

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).

Edited by CN