OPEC oil rises in price

24 November 2017 17:18 (UTC+04:00)

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The price of OPEC basket of fourteen crudes stood at $61.14 a barrel on November 23, compared with $61.09 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), 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).

The price for January futures of Brent crude oil has decreased by 0.11 percent and stood at $63.48 per barrel as of 04:17 (EST), on November 24.

This is while the price for January futures of West Texas Intermediate (WTI) oil rose by 0.84 percent to $58.51 per barrel.

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