OPEC oil price up



    The price of OPEC’s basket of 13 crude brands stood at $46.40 per barrel on July 14, as compared to $45.66 per barrel on July 13, the cartel said in a message on its website.

    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).

    The price for September futures of Brent crude oil has increased by 0.43 percent to $49.12 per barrel July 17, as of 08:03 (UTC +4).

    This is while the price for August futures of West Texas Intermediate (WTI) has grown by 0.39 percent and stood at $46.72 per barrel.