OPEC basket price drops after days of rise
Baku, Azerbaijan, Nov.25
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $45.22 a barrel on Nov.24, compared with $45.35 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).
World oil prices are dropping Nov.25. The price of January futures for Brent crude oil has decreased by 0.92 percent to $48.55 per barrel. This is while the January futures for West Texas Intermediate (WTI) oil dropped by 0.77 percent to $47.59 per barrel.