TEHRAN, Iran, April 13. MOMR reported that in March 2022, the Iran Heavy Crude Oil price rose by 20.8 percent to $112.4/b compared to $93.04 in February, Trend reports citing OPEC monthly report on the oil market.
According to the report, The OPEC Reference Basket (ORB) value rose firmly in March, increasing by $19.53, m-o-m, or 20.8 percent, to stand at $113.48 per barrel.
All ORB components’ values increased over the last month alongside their respective crude oil benchmarks. Arab Light, Basrah Light, Iran Heavy, and Kuwait Export increased by $19.44, m-o-m, or 20.8 percent on average, to settle at $112.72 per barrel.
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 the oil market balance.