The OPEC website's data show that the OPEC basket's weekly price stood at 86.05 dollars during the week ending on July 11, down by 1.24 dollars from a week earlier when OPEC’s weekly price was announced at 87.29 dollars.
OPEC's basket has declined this week after it rose for four weeks since June 13. The benchmark had risen consistently in June and the first week of July from 79.53 dollars on June 06 to 87.29 dollars on July 04.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
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