OPEC basket price down
Baku, Azerbaijan, Dec.9
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $50.04 a barrel on Dec.8, compared with $50.22 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 rising on Dec.9 ahead of the meeting of OPEC and non-OPEC countries to be held Dec.10 in Vienna.
The price of February futures for Brent crude oil rose by 0.54 percent and stood at $54.18 per barrel as of 06:11 EST. This is while the price of January futures for West Texas Intermediate (WTI) oil increased by 0.85 percent to $51.27 per barrel.
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