Baku, Azerbaijan, May 22
By Maksim Tsurkov – Trend:
The price of OPEC basket of fourteen crudes stood at $77.19 a barrel on May 22, which is by $0.98 more compared to May 21, 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).
World oil prices are falling on May 23 morning, investors take a cue from a message about the possible decision of OPEC to increase oil production.
The price for July futures of the North Sea Brent oil mix fell by 0.65 percent to $79.05 per barrel, while the price for July futures of West Texas Intermediate (WTI) oil decreased by 0.33 percent and stood at $71.96 per barrel as of 11:21 (GMT +4), May 23.
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