OPEC daily basket price continues to decline
Baku, Azerbaijan, Nov.3
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $43.12 a barrel on Nov.3, compared with $44.53 the previous day, 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).
Brent crude was trading up 51 cents, or 1.1 percent, at $47.37 a barrel by 04:15 GMT. US crude was up 39 cents, or 0.9 percent, at $45.73 per barrel.
Crude prices were underpinned by concerns about supply disruptions after militants in Nigeria's southern Niger Delta oil hub attacked a pipeline operated by the Nigerian National Petroleum Corporation on Nov.2.