Baku, Azerbaijan, April 4
By Gazenfer Hamidov – Trend:
Iranian oil price in global markets witnessed a significant increase during the week to March 23, according to the National Iranian Oil Company's OPEC Affairs and International Energy Forums Office.
Each barrel of Iran’s Light oil registered an rise by $3.87 and was sold at averagely $64.77 during the week from March 16 to March 23.
Meanwhile, the price of Iran’s Heavy oil stood at $63.52, indicating a rise by $2.68 during the week to March 23, compared to the previous week.
The average price of Iran’s Light oil has been $64.77 in 2018, while the average price of Heavy oil has been $63.37.
The price of OPEC basket of 14 crude brands stood at $65.08 during the week to March 23, indicating a rise by $2.75.
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 $64.98 per barrel on April 3 as compared to $66.09 the previous day, according to OPEC.