OPEC oil price drops below $50/bbl

Oil&Gas Materials 24 April 2017 11:40 (UTC +04:00)

Baku, Azerbaijan, Apr. 24

By Leman Zeynalova – Trend:

The price of OPEC’s basket of 13 crudes stood at $49.99 a barrel on Apr. 21, compared to $50.48 on Apr. 20, the cartel said in a message on its 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).

This is while, the price for June futures of Brent crude oil has increased by 0.58 percent to $52.26 per barrel as of 06:05 (GMT +4).

Meanwhile, the price for June futures of West Texas Intermediate (WTI) has grown by 0.58 percent and stood at $49.91 per barrel.


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