Search results
Results from the WOW.Com Content Network
Congressional Democrats are investigating whether leading US oil companies have illegally colluded with each other and with OPEC to inflate prices at the pump, CNN has learned.
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Other well-known blends include the OPEC Reference Basket used by OPEC, Tapis Crude which is traded in Singapore, Western Canadian Select used in Canada, Bonny Light used in Nigeria, Urals oil used in Russia and Mexico's Isthmus. Energy Intelligence Group publishes a handbook which identified 195 major crude streams or blends in its 2011 ...
The OPEC Reference Basket (ORB), also referred to as the OPEC Basket, is a weighted average of prices for petroleum blends produced by OPEC members. It is used as an important benchmark for crude oil prices. OPEC has often attempted to keep the price of the OPEC Basket between upper and lower limits, by increasing and decreasing production.
OPEC analysts note the latest data shows Chinese crude imports increasing to 11.4 million barrels per day in October, on track to reach a new annual record high for this year. ... The oil cartel ...
That’s up from $3.782 a week ago and $3.779 a month ago but still well down from the all-time high of $5.016 set on June 14, 2022. ... How Much Will Gas Prices Go Up as OPEC Slashes Oil ...
Also in May, Saudi Arabia lowered the price of its Arab Light crude grade to Europe for the month of June. The price of the Arab Light benchmark sold in the US in June remained the same, at $5.65 per barrel above the Argus Sour Crude Index. [198] Meanwhile, Kuwait became the second-largest OPEC member to cut its prices for Asia, after Saudi Arabia.
West Texas Intermediate futures sank more than 2% to close at $75.96 per barrel while Brent crude, the international benchmark price settled at $82.83 per barrel.