Baku, Azerbaijan, May 11
By Aygun Badalova - Trend:
OPEC oil basket's price stood at $40.2 per barrel on May 10, or $0.56 less than on May 9, the cartel told Trend May 11.
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).
A negative dynamics was observed in the world oil prices on May 11 amid the information on the growth of oil stocks on the US market, which increased by 3.45 million barrels.
The price for July futures of the North Sea Brent oil mix at London ICE Futures Europe Exchange decreased by 0.5 percent - to $45.31 per barrel, while the price of June futures for WTI oil at New York Mercantile Exchange (NYMEX) decreased by 0.5 percent - to $44.42 per barrel on May 11.