OPEC oil price increases

OPEC oil basket’s price stood at $45.43 per barrel on May 26, or $0.46 more than on May 25, the cartel told Trend May 27.

The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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).

Global oil prices down on May 27.

The price for July futures of the North Sea Brent oil mix decreased by 1.37 percent – up to $48.91 per barrel, while the price of July futures for WTI oil decreased by 0.95 percent – up to $49.01 per barrel.

Source: Trend