Vienna, 28 November 2014--The price of OPEC basket of twelve crudes stood at 70.80 dollars a barrel on Thursday, compared with $73.70 the previous day, according to OPEC Secretariat calculations. (View Archives) The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of 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).
glad to offload my port @3.75 www.screencast.com/t/811vwRuk
No need to rush to buy in...PMO still has 25% of downside!!
as expected nothing comes out of the OPEC meeting, consequences: oil price has collapsed!! We may see the WTI price around 60USD.... : - (
Needless to say with the current drop in oil price and even lower in the months to come, nothing will come out from the Vienna OPEC meeting. And FRR oil revenue will suffer and the sp in consequence. Prepare for the worst case scenario…
Looks like someone is offloading his holding since 2 weeks ahead of the next plunge...??