Baku, Azerbaijan, Aug. 5
By Umid Niayesh - Trend:
The OPEC oil basket price increased 50 cents to $47.09 per barrel on August 4.
However, the figure is $10.45 less than July 3, the Cartel's official website published on Aug.5.
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 31.378 million barrels per day in June, some 403,000 barrels more than 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