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OPEC price ups as US production increases

OPEC price rises
The price of OPEC basket of fourteen crudes stood at $47.57 a barrel on Tuesday, compared with $47.17 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 (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).

This comes as oil prices fell on Wednesday, halting a run of eight straight days of gains on signs that a persistent rise in US crude production is running out of steam. 

Last Modified: Wednesday، 05 July 2017 12:39 PM