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 decreased May 2 amid an increase in the OPEC countries` production.
The price for July futures of the Brent Dated oil, produced from the North Sea, was $46.82 per barrel on May 2 at 11:55 (UTC/GMT +4 hours), or $1.16 less than the previous price, while the price for June futures of the WTI oil decreased by 0.81 percent to $45.55 per barrel.
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