...

OPEC oil price down on May 2

Oil&Gas Materials 3 May 2016 14:19
OPEC oil basket’s price stood at $42.47 per barrel on May 2, or $0.23 less than on Apr. 29.
OPEC oil price down on May 2

Baku, Azerbaijan, May 3

By Maksim Tsurkov - Trend:

OPEC oil basket's price stood at $42.47 per barrel on May 2, or $0.23 less than on Apr. 29, the cartel told Trend May 3.

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).

However, global oil prices have been rising on May 3.

The price for the July futures of the North Sea Brent oil mix increased by 0.94 percent to $46.26 per barrel, while the price for the June futures of the WTI oil rose by 1.03 percent to $45.24 per barrel as of 11:35 (GMT+4) on May 3.

Edited by EA

---

Follow the author on Twitter: @MaksimTsurkov

Tags:
Latest

Latest