The price of Organisation of Petroleum Exporting Countries’, OPEC’s, basket of fourteen crudes stood at US$59.90 a barrel on Friday, November 17, 2017, compared with $59.98 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes is made up of the
The United Arab Emirates (UAE) has urged the Organization of Petroleum Exporting Countries (OPEC) to inform its buyers about production cut figures by member-countries. In November, OPEC agreed to cut production by 1.2 million barrels per day in order to increase oil prices. “As you saw, the GCC [Gulf Cooperation Council] companies announced to the […]