Economy

OPEC oil basket rises in price

251

The price of OPEC basket of fourteen crudes stood at $68.46 a barrel on Jan.25, compared with $67.61 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 March futures of the North Sea Brent oil mix has decreased by 0.20 percent up to $70.28 per barrel, while the price for March futures of West Texas Intermediate (WTI) oil dropped by 0.14 percent and stood at $65.42 per barrel as of 03:25 (EST), Jan. 26.

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