The price of OPEC basket of fourteen crudes stood at $74.87 a barrel on Friday, compared with $76.62 the previous day, 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).
[…] was mainly due to the production cut by the Organisation of the Petroleum Exporting Countries, OPEC, and its […]
[…] had on Friday, told newsmen at the St. Petersburg International Economic Forum in Russia, that OPEC will resume output increase at the third quarter of this year if approved by members at the next […]