OPEC oil price decreases

  09 May 2016    Read: 1077
OPEC oil price decreases
OPEC oil basket`s price stood at $40.55 per barrel on May 6, or $0.6 less than on May 5, the cartel told on May 9.
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 rose on May 9 against the background of the news about the Saudi oil minister`s discharge, as well as the forest fires spreading to the oil-producing regions of Canada.

The price for the July futures of the North Sea Brent oil mix increased by 0.97 percent to $45.81 per barrel, while the price for the June futures of the WTI oil rose by 1.46 percent to $45.31 per barrel on May 9 at 12:00 (UTC/GMT +4 hours).

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