OPEC basket price continues to rise
Baku, Azerbaijan, Feb.22
By Leman Zeynalova – Trend:
The price of OPEC basket of thirteen crudes stood at $53.88 a barrel on Feb.21, compared with $53.49 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).
Oil prices have started to drop on Feb.22. The price of April futures for Brent crude oil has dropped by 0.60 percent to $56.32 per barrel as of 08:17 EST. The price of April futures for West Texas Intermediate (WTI) oil has decreased by 0.64 percent to $53.98 per barrel.
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