Baku, Azerbaijan, May 2
By Maksim Tsurkov - Trend:
OPEC oil basket's price stood at $42.02 per barrel on April 29, or $0.68 more than on April 28, the cartel told Trend May 2.
OPEC oil basket's average price increased by 9.3 percent in April and amounted to $37.86 compared to $34.65 in March. OPEC oil basket's average price amounts to $32.06 in 2016 ($49.49 in 2015).
The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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).
The world oil prices decreased May 2 amid an increase in the OPEC countries' production.
The price for July futures of the Brent Dated oil, produced from the North Sea, was $46.82 per barrel on May 2 at 11:55 (UTC/GMT +4 hours), or $1.16 less than the previous price, while the price for June futures of the WTI oil decreased by 0.81 percent to $45.55 per barrel.
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