OPEC oil price increases

Oil&Gas Materials 21 July 2016 14:12 (UTC +04:00)

Baku, Azerbaijan, July 21

By Maksim Tsurkov – Trend:

OPEC oil basket’s price stood at $42.73 per barrel on July 20, or $0.07 more than on July 19, the cartel told Trend July 21.

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, oil prices are decreasing on July 21.

The price for September futures of the North Sea Brent oil mix decreased by 0.17 percent to $47.09 per barrel, while the price for August futures of WTI oil dropped by 0.02 percent to $45.74 per barrel on July 21 as of 12:38 (UTC/GMT +4 hours).


Follow the author on Twitter: @MaksimTsurkov