OPEC oil price decreases

Oil&Gas Materials 14 July 2016 13:25 (UTC +04:00)

Baku, Azerbaijan, July 14
By Maksim Tsurkov – Trend:

OPEC oil basket’s price stood at $43.19 per barrel on July 13 or $0.03 less than on July 12, the cartel told Trend July 14.

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).

However, global oil prices have been increasing today.

The price for September futures of the North Sea Brent oil mix increased by 0.56 percent to $46.52 per barrel, while the price for August futures of WTI oil increased by 0.6 percent to $45.02 per barrel as of 12:54 (GMT+4 hours) July 14.


Follow the author on Twitter: @MaksimTsurkov