Baku, Azerbaijan, Sept. 9
By Fatih Karimov – Trend:
Iranian crude’s price registered a slight fall in the global markets during the week that ended on Sept. 1 after experiencing a $1-per-barrel rise in the preceding week, the National Iranian Oil Company’s OPEC Affairs and International Energy Forums Office said in its latest weekly report.
Each barrel of Iran’s Heavy oil was sold at $48.51 during the week from Aug. 25 to Sept. 1, or $0.33 less compared to the previous week.
The price of Iran’s Light oil stood at $50.93, indicating a fall by $0.07 compared to the preceding week.
This year the average price of Iran’s Light oil has been $49.08, while the average price of Heavy oil has been $49.27.
The price of OPEC basket of 14 crude brands stood at $49.53 during the week from Aug. 25 to Sept. 1, indicating a fall by $0.17.
The OPEC Reference Basket (ORB) includes the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), 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 basket’s price stood at $52.48 per barrel on Sept. 7 as compared to $52.04 the previous day, according to OPEC.