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Brent as low as $ 46 and OPEC is cracking to $ 44
Brent crude, on Tuesday, to its lowest level in five years to reach $ 46 per barrel, while OPEC prices tumbled to $ 44.
According to the indicators "Brent", which was published on the oil bourse Web site, it "by the time 10:00 Brent price fell to around $ 46 a barrel, near its lowest price in almost six years after a decline of five percent on Monday."
And OPEC prices have tumbled to less than $ 44 per barrel after consecutive declines over the past week from $ 52.
And Brent or Brent, a crude oil is used as a standard two-thirds of the world's oil production for the pricing, especially in the European and African markets, and consists of Brent oil blend of 15 different fields in the regions of Brent and Tinian (some of them located in the United Kingdom and others in Norway), which together produce about 500 thousand barrels per day, and is one of the types of light sweet oil because of the specific gravity of 38 degrees and low sulfur by up to 0.37 per cent.
It consists of OPEC basket of 12 crude, which is a mixture of the Algerian Sahara ore Girassol Angolan Iranian heavy crude and Basrah Light Iraqi export Kuwaiti and Libyan Sidr and Bonny Light Nigerian maritime Qatari light and Saudi Arabian and Murban UAE and Mary Venezuelan Orient from Ecuador.
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