Baku, Azerbaijan, Dec.13
By Leman Zeynalova – Trend:
The price of OPEC basket of fourteen crudes stood at $53.24 a barrel on Dec.12, compared with $50.95 Dec.9, according to the cartel’s website.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: 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).
World oil prices have started to drop Dec.13 after reaching the highest level since July 2015, according to the trading data.
The price of February futures for Brent crude oil has decreased by 0.31 percent to $55.52 per barrel as of 12:55 EST. This is while the price of January futures for West Texas Intermediate (WTI) oil dropped by 0.51 percent and stood at $52.56 per barrel.