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Price of oil the OPEC basket has reached the maximum value for three weeks

Oct 12th, 2009 | By admin | Category: Main News

price of oil OPEC basket increased by 1,5% and reached a maximum value for three weeks. At the end of the trading day on Oct. 9, 2009 the OPEC basket went up by 1.03 dollars, while its price is officially made up 68.86 per barrel. - The highest since September 18.

Recall that the oil basket of the OPEC (OPEC Reference Basket of crudes) is the cumulative Simple average price of oil, which supply the world market OPEC countries. Since January 2009 the basket of 12 oil represented by the following brand names: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (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).

We note that oil on world markets continues to rise in price accompanied by increased forecasts for world oil consumption in 2009-2010.

example, the price of oil futures Middle East Crude Oil for Tokiyskoy Commodity Exchange (TOCOM) today increased by more than 2,5%. At the end of trading on October 12 TOCOM official price of the most active futures transactions (March) amounted to 39.590 (0,990) thousand yen per kl, which roughly corresponds to 70,09 dollars per barrel.

Oil on exchanges in New York and London has risen in price since the beginning of today's trading more than U.S. $ 1.2 As of 13:45 the price of oil futures transactions amounted to (U.S. $ /bbl.):

- Light, Sweet Crude Oil (November) - 73,00 (1,23) with a range of quotations 72,05-73,03;

- IPE Brent Crude (November) - 71,24 (1,24) with a range of quotations 70,29-71,25.

Recall that the outcome of trades on Oct. 9, 2009 in London on InterContinental Exchange Futures Europe (ICE Futures Europe) official price of the futures IPE Brent Crude (November) have increased by 23 cents (0.3%) and set at around 70 , 00 dollars /barrel. with a range of prices of transactions per session 68,85-70,56 per barrel.

the same day in New York on the New York Mercantile Exchange (NYMEX) the official price of the futures Light, Sweet Crude Oil (November) added 8 cents per day (0,1%) and set at around U.S. $ 71.77 barrel. with a range of prices of transactions per session 70,62-72,35 per barrel.

In general, for the past week on the oil markets has risen in price considerably. Thus, the official price of WTI crude oil rose for a week on 1,82 $ /barrel., Or 2,6%, and the barrel of Brent crude oil becomes more expensive for U.S. $ 1,93, or 2,8%. Thus, over the past week the price of oil futures have risen by an average of 2,7%.

recall, last week the International Energy Agency (IEA) for the third time this year increased the forecast of world oil consumption in 2009-2010. According to the monthly report of the agency, is made in view of improving forecasts of recovery in the world economy after the recession. Thus, the forecast of world oil consumption this year raised to 84.6 million barrels per day, and in 2010 - up to 86.1 million barrels per day. Previously, the IEA predicted consumption of 84.4 million barrels per day this year and 85.7 million barrels in 2010.


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