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 May 23.
The price for July futures of the North Sea Brent oil mix decreased by 1.17 percent - up to $48.15 per barrel, while the price of July futures for WTI oil decreased by 1.38 percent - up to $47.74 per barrel May 23 as of 11:20 (UTC/GMT+4 hours).
OPEC oil price increases
24 May 2016
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OPEC oil basket`s price stood at $44.77 per barrel on May 20, or $0.93 more than on May 19, the cartel told Trend May 23.
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