Bahrain Oil Price Hikes Up to 43$
2016-05-24 - 12:38 ص
Bahrain Mirror: The price of Bahraini crude oil increased to about 43$ per barrel in global markets; meanwhile, the Europe Brent crude oil prices rose to more than 48$ per barrel and the US crude to over 47$ per barrel.
The Bahraini crude oil is classified among the "medium" Arab oils. During last week, the Bahraini crude oil reached its maximum price in 2016, reaching 43$ per barrel. It is noteworthy that the Bahrain's oil hiked up to more than 40$ per barrel in global markets since the onset of May 2016.
Bahrain produces about 200,000 barrels a day; including 150 from the Abu Safah oil field shared with Saudi Arabia. This amount is directly sold in global markets. Bahrain also produces 50,000 barrel from the Bahrain Wild field; pumped to BAPCO refinery.
The Organization of Petroleum Exporting Countries (OPEC) announced that the average price of its 13 crude oils reached 43.84$ per barrel by the end of last week.
Tags: Saudi Arabia, Bahrain, Oil
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