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 continued to increase on May 17.
The price for July futures of the North Sea Brent oil mix increased by 0.61 percent - up to $49.27 per barrel, while the price of June futures for WTI oil increased by 1.09 percent - up to $48.24 per barrel May 17 as of 11:40 (UTC/GMT+4 hours).
OPEC
17 May 2016
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OPEC oil basket`s price stood at $44.37 per barrel on May 16, or $1.07 more than on May 13, the cartel told on May 17.
