TEHRAN, Iran, Dec. 14
Trend:
OPEC’s December Report suggests that the OPEC Reference Basket (ORB) value fell by $1.74, or 2.1 percent in November to average at $80.37/b
All ORB component values weakened in November, including Arab Light, Basrah Light, Iran Heavy, and Kuwait Export, which have declined by $1.77, or 2.1 percent Month-over-Month on average and settled at $80.52/b.
Iran Heavy crude oil value fell by $1.64, or 2 percent in November to average at $80.5/b.
The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as oil market balance.