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


News in Brief

OPEC daily basket price $34.50

  • SOURCE: | Editor
  • 8885814-Oil-barrels--Stock-Vector-oil-gas-barrelThe price of OPEC basket of thirteen crudes stood at $34.50 a barrel on Tuesday, compared with $35.48 the previous day, 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 CNBC reports that oil futures rebounded in Asian trade on Wednesday, buoyed by a forecast for a less than expected build in crude oil stockpiles last week.

    A weakening dollar also lent some support but concern that a two-month rally was fading in an oversupplied market put a ceiling on gains.

    Brent futures climbed 40 cents to $39.54 a barrel as of 0104 GMT after settling down $1.13 in the previous session.

    U.S. crude rose 45 cents to $38.73 a barrel after ending the previous session down $1.11.

    Oil prices fell about 3 percent in the previous session after Kuwait and Saudi Arabia said they would resume production at the jointly operated 300,000-barrel-per-day Khafji field even as oil output is supposed to be capped.

    Source: http://classfmonline.com/1.8851447

    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