OPEC daily basket price stood at $41.50 a barrel Tuesday, 13 January 2015

OPEC daily basket price stood at $41.50 a barrel Tuesday, 13 January 2015

The price of OPEC basket of twelve crudes stood at 41.50 dollars a barrel on Tuesday, compared with $43.55 the previous day, according to OPEC Secretariat calculations.

According to the EIA, December was the sixth consecutive month in which monthly average Brent crude oil prices decreased, falling $17/barrel (bbl) from November to a monthly average of $62/bbl, the lowest since May 2009.

The December price decline, and its continuation into early January, reflects continued growth in U.S. tight oil production, strong global supply, and weakening outlooks for the global economy and oil demand growth.

Oil and Gas Press

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