OPEC oil price up | Lao Tribune

OPEC oil price up

OPEC oil basket’s price stood at $34.91 per barrel on March 30, or $0.41 more than on March 29, the cartel told Trend March 31.

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).

The global oil prices decreased March 31 amid the data of the US Department of Energy, which registers the growth of oil reserves in the country up to a record high level seven weeks running. This again exacerbated concerns over the oversupply of crude oil on the market.

The price for June futures of the North Sea Brent oil mix decreased by 0.89 percent – up to $38.91 per barrel as of March 31, 11:28 (UTC/GMT+4 hours), while the price of May futures for WTI oil decreased by 1.3 percent – up to $37.82 per barrel.

Source: Trend