OPEC oil price increases

  11 May 2016    Read: 1037
OPEC oil price increases
OPEC oil basket`s price stood at $40.76 per barrel on May 9, or $0.21 more than on May 6, the cartel told on May 10.
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).

World oil prices have stabilized on May 10 after a decline of more than 2.5 percent against the background of information on May 9 about the gradual resumption of oil output in Canada`s oil fields.

The price for July futures of the North Sea Brent oil mix at London ICE Futures Europe Exchange increased by 0.2 percent - to $43.71 per barrel, while the price of June futures for WTI oil at New York Mercantile Exchange (NYMEX) decreased by 0.25 percent - to $43.33 per barrel on May 10.

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