OPEC oil price decreases

Oil&Gas Materials 24 June 2016 15:47 (UTC +04:00)

Baku, Azerbaijan, June 24

By Maksim Tsurkov – Trend:

OPEC oil basket’s price stood at $46.16 per barrel on June 23, or $0.3 less than on June 22, the cartel told Trend June 24.

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).

Global oil prices are down June 24 due to the results of the referendum in the UK on EU membership.

The price for August futures of the North Sea Brent oil mix decreased by 3.52 percent – to $49.12 per barrel, while the price of August futures for WTI oil decreased by 3.63 percent – to $48.29 per barrel June 24 as of 11:50 (UTC/GMT+4 hours).


Follow the author on Twitter: @MaksimTsurkov