OPEC oil price up on March 10

OPEC oil basket’s price stood at $35.23 per barrel on March 10, or $0.18 more than on March 9, the cartel told Trend March 11.

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).

The world oil prices increased March 11 following a recent decrease.

The price for May futures of the North Sea Brent oil mix increased by 1.5 percent – up to $40.66 per barrel on March 11 as of 12:43 (UTC/GMT +4 hours), while the price of April futures for WTI oil increased by 1.96 percent – up to $38.58 per barrel.

Source: Trend