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).
Global oil prices down on March 29 due to the fears on the continuing oversupply of offers in the market.
The price for June futures of the North Sea Brent oil mix decreased by 1.29 percent – up to $39.75 per barrel, while the price of May futures for WTI oil decreased by 1.37 percent – up to $38.85 per barrel March 29 as of 11:47 (UTC/GMT+4 hours).
OPEC oil price goes up
29 March 2016
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OPEC oil basket
