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Barrel of Oil Drops to $53.16

Last updated: 2015/03/13 at 4:19 PM

starconnect Published 13 March 2015

Oil in drums

March 13, 2015 – Organisation of Petroleum Exporting Countries(OPEC) says price of a basket of twelve crudes stood at $53.16 a barrel on Thursday.

The figure is about 9 cents below the $52.25 which it traded the previous day.

The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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).