OPEC reference basket goes up
The OPEC reference basket of crudes stood at $45.75 per barrel on August 26. The price was $0.47 lower the previous day.
The OPEC Reference Basket (ORB) is made up of the following oil brands: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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).
Oil prices fell on Monday after Iran said it would only cooperate in talks to freeze output if fellow exporters recognized its right to fully regain market share, Trend reports.
The prices of October futures for Brent oil dropped 1.24%, reaching $49.53 on the ICE Exchange in London this morning.
The October futures for WTI oil dropped to $46.98 at the New York Mercantile Exchange (NYMEX).