Baku, Azerbaijan, Dec.2
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $49.35 a barrel on Dec.1, compared with $44.80 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).
Oil prices are decreasing Dec.2. The price of February futures for Brent crude oil has decreased by 1.17 percent to $53.31 per barrel. This is while the price of January futures for West Texas Intermediate (WTI) oil dropped by 0.78 percent to $50.66 per barrel.