OPEC oil price continues to drop
Baku, Azerbaijan, July 11
By Leman Zeynalova – Trend:
The price of OPEC’s basket of 13 crudes stood at $44.77 per barrel on July 10, as compared to $45.11 per barrel on July 7, 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 September futures of Brent crude oil has increased by 0.28 percent to $47.01 per barrel July 11 as of 05:49 (UTC +4).
This is while the price for August futures of West Texas Intermediate (WTI) has grown by 0.23 percent and stood at $44.50 per barrel.
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