OPEC daily basket price drops
Baku, Azerbaijan, Oct.18
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $48.22 a barrel on Oct.17, compared to $48.63 on Oct.14, according to the cartel’s website.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: 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).
Meanwhile, global oil prices are increasing on Oct. 18.
The price of December futures for the North Sea Brent oil mix increased by 0.76 percent to $51.92 per barrel, while the price of November futures for WTI oil rose by 0.92 percent to $50.40 per barrel as of 15:06 (GMT+4) on Oct. 18.