OPEC oil price up March 16

OPEC oil basket’s price stood at $34.5 per barrel on March 16, or $0.81 more than on March 15, the cartel told Trend March 17.

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 world oil prices show a positive trend March 16 amid the data on crude oil reserves in the US disseminated by the American Petroleum Institute and the US Department of Energy.

The price for May futures of the North Sea Brent oil mix increased by 0.79 percent – up to $40.65 per barrel, while the price of April futures for WTI oil increased by 1.46 percent – up to $39.02 per barrel March 17.

Source: TREND