OPEC oil price increases | Lao Tribune

OPEC oil price increases

OPEC oil basket’s price stood at $43.22 per barrel on July 12 or $1.01 more than on July 11, the cartel told Trend July 13.

The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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).

However, global oil prices have been decreasing today.

The price for September futures of the North Sea Brent oil mix decreased by 1.46 percent to $47.76 per barrel, while the price for August futures of WTI oil decreased by 1.26 percent to $46.21 per barrel as of 11:44 (GMT+4 hours) July 13.

Source: Tend