Baku, Azerbaijan, May 24
Trend:
The price of OPEC basket of fourteen crudes stood at $76.43 a barrel on May 23, which is by $0.76 less compared to May 22, 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 price for July futures of the North Sea Brent oil mix fell by 0.42 percent to $79.38 per barrel, while the price for July futures of West Texas Intermediate (WTI) oil decreased by 0.34 percent and stood at $71.5 per barrel as of 12:31 (GMT +4), May 24.