OPEC basket price drops
Baku, Azerbaijan, Jan.5
By Leman Zeynalova – Trend:
The price of OPEC basket of thirteen crudes stood at $52.71 a barrel on Jan.4, compared with $53.13 the previous day, according to the cartel’s website.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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).
The price of March futures for Brent crude oil dropped by 0.12 percent and stood at $56.39 per barrel as of 05:20 EST. This is while the price of February futures for West Texas Intermediate (WTI) oil has decreased by 0.02 percent to $53.25 per barrel.
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