Baku, Azerbaijan, Jan.8
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $65.86 a barrel on Jan.5, compared with $66.13 the previous day, according to OPEC secretariat calculations.
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 UK-based Capital Economics forecasts OPEC basket it to stand at $57 per barrel as of Q1 2018, $55 per barrel in Q2, $53 per barrel in Q3 and $52 per barrel in Q4 of 2018.
The price for March futures of the North Sea Brent oil mix has increased by 0.25 percent to $67.79 per barrel, while the price for February futures of West Texas Intermediate (WTI) oil rose by 0.59 percent to $61.80 per barrel on Jan.8.
---
Follow the author on Twitter: @Lyaman_Zeyn