OPEC oil price up on May 12

OPEC oil basket's price stood at $43.31 per barrel on May 12, or $1.91 more than on May 11, the cartel has told Trend.

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).

However, global oil prices are down on May 13.

The price for July futures of the North Sea Brent oil mix fell by 0.46 percent to $47.86 per barrel, while the price for June futures of the WTI oil decreased by 0.9 percent to $46.28 per barrel as of 12:08 (UTC/GMT+4) on May 13.

Source: Trend