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OPEC oil price continues to drop

Oil&Gas Materials 7 July 2017 11:03
The price of OPEC’s basket of 13 crudes stood at $46.52 per barrel on July 6, as compared to $47.04 per barrel on July 5, the cartel said in a message on its website.
OPEC oil price continues to drop

Baku, Azerbaijan, July 7

By Leman Zeynalova – Trend:

The price of OPEC’s basket of 13 crudes stood at $46.52 per barrel on July 6, as compared to $47.04 per barrel on July 5, 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).

The price for August futures of Brent crude oil has decreased by 1.16 percent to $47.55 per barrel as of 05:41 (UTC +4).

This is while the price for August futures of West Texas Intermediate (WTI) has dropped by 1.25 percent and stood at $44.95 per barrel.

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Follow the author on Twitter: @Lyaman_Zeyn

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