Crude price drops at international market – OPEC

The Organisation of the Petroleum Exporting Countries on Tuesday announced a drop in price of crude from $52.64 dollars to $52.17.
The report on the organisation’s website did not give reasons for the difference of $0.47 drop.
The report said: “The price of OPEC basket of 13 crudes stood at $52.17 a barrel on Monday compared with $52.64 the previous Friday, according to OPEC secretariat calculations.”
The 13 OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon) and Iran Heavy (Islamic Republic of Iran).
Others are Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).