OPEC oil price exceeds $50/bbl
Baku, Azerbaijan, Sept.5
By Leman Zeynalova – Trend:
The price of OPEC’s basket of 14 crudes stood at $50.20 per barrel on Sept.4, as compared to $49.52 per barrel on Sept.1, 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), 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).
The price for October futures of Brent oil has decreased by 0.31 percent to $52.18 per barrel as of 08:12 (UTC + 4).
The price for October futures of West Texas Intermediate (WTI) grew by 0.55 percent and stood at $47.55 per barrel.
Follow the author on Twitter: @Lyaman_Zeyn