Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

OPEC daily basket price $33.33

  • SOURCE: | Editor
  • 8885814-Oil-barrels--Stock-Vector-oil-gas-barrelThe price of OPEC basket of thirteen crudes stood at $33.33 a barrel on Monday, compared with $34.47 the previous Friday, according to OPEC Secretariat calculations.


    The new OPEC Reference Basket of Crudes (ORB) is made up of the following: 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).

    Meanwhile, BBC reports that many Asian markets fell on Tuesday as the decline in the oil price appeared to weigh on investor sentiment.

    In Japan, the benchmark Nikkei 225 closed down 2.4% at 15,732.82, the sixth session in a row that the index has fallen.

    In South Korea, the Kospi index closed down 0.8% at 1,962.74, the lowest close in a month.

    US stocks ended lower on Monday after the price of US crude oil fell 3% in New York trade.

    The drop extended falls from the previous two trading sessions, as hopes faded that oil producers would agree to curb production at their meeting on 17 April.

    Oil prices hit a peak of $115-a-barrel in June 2014, but have plunged by more than 70% since then because of oversupply and sluggish demand.

    The oil producers’ meeting later this month will take place in the Qatari capital, Doha. It will involve Opec and non-Opec members and will discuss freezing supply at January levels to help push the oil price back up.

    Source: http://classfmonline.com/1.8871802

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do You Think ExxonMobil's Arrival Is Going To Make Significant Contribution Towards Our Oil Sector?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Dec 2018 >>
    MTWTFSS
    26 27 28 29 30 1 2
    3 4 5 6 7 8 9
    10 11 12 13 14 15 16
    17 18 19 20 21 22 23
    24 25 26 27 28 29 30
    31 1 2 3 4 5 6
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar