OPEC’s oil price increases

OPEC oil basket's price stood at $44.88 per barrel on May 18, or $0.06 more than on May 17, the cartel told Trend May 19.

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 declined May 19.

The price for July futures of the North Sea Brent oil mix decreased up to $48.25 per barrel May 19, while the price of June futures for WTI oil decreased up to $47.64 per barrel.

Source: Trend

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