OPEC oil price decreases

Oil&Gas Materials 8 July 2016 14:26 (UTC +04:00)

Baku, Azerbaijan, July 8

By Maksim Tsurkov – Trend:

OPEC oil basket’s price stood at $44.18 per barrel on July 7, or $0.17 less than on July 6, the cartel told Trend July 8.

The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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).

Oil prices are increasing on July 8.

The price for September futures of the North Sea Brent oil mix increased by 0.8 percent up to $46.77 per barrel, while the price for August futures of WTI oil increased by 0.82 percent up to $45.51 per barrel as of 12:00 (GMT+4 hours) July 8.


Follow the author on Twitter: @MaksimTsurkov