OPEC oil ups by 1%

OPEC oil basket’s price stood at $29.48 per barrel on Feb. 22, or $0.31 more than on Feb.19, a source in OPEC told Trend Feb. 23.

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)

Negative dynamics is observed in world oil prices on Feb. 23. The price of April futures for North Sea Brent crude oil mix decreased by 0.44 percent and stood at $34.25 per barrel on Feb. 23 in the morning. This is while the price of March futures for WTI oil has decreased by 1.35 percent and reached $32.94 per barrel.

/By Trend/