OPEC Reference Basket moves up 6.3 percent in November

World oil demand for 2020 is expected to decline by 9.77 million barrels per day (mb/d), marginally lower than in last month’s assessment

The latest OPEC market report indicates that the OPEC Reference Basket (ORB) rose by $2.53, or 6.3percent, month-on-month (mom), to stand at $42.61 per barrel in November. Year-to-date (y-t-d), the ORB has averaged $40.75/b, down by $23.07 compared to the same period last year. Spot crude prices bou

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