OPEC oil price increases
By Trend
OPEC oil basket’s price stood at $46.87 per barrel on May 8, or $0.31 more than on May 5, the cartel told Trend May 9.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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).
Oil prices are slightly increasing on May 9 on investors’ expectations for the extension of the Vienna agreement on oil output reduction.
The price for July futures of the North Sea Brent oil mix increased by 0.26 percent up to $49.47 per barrel, while the price for June futures of WTI oil increased by 0.28 percent up to $46.56 per barrel as of 12:31 (GMT+4 hours) May 9.
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