Baku, Azerbaijan, July 20
By Elena Kosolapova – Trend:
The price of OPEC basket of fourteen crudes stood at $46.85 a barrel on July 19, compared with $46.45 the previous day, the cartel said in a message.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), 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 oil prices are decreasing on July 20. The price for September futures of Brent oil fell by 0.14 percent to $49.63 per barrel as of 3:36 a.m. EDT (UTC-4). The price for August futures of West Texas Intermediate (WTI) decreased by 0.19 percent and stood at $47.03 per barrel as of 3:30 a.m. EDT (UTC-4).