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Today is expected to conclude negotiations on Iran's nuclear program and Iranian "oil start"

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The price of oil OPEC basket (OPEC Reference Basket of crudes) dropped to 10-week minimum below $ 59 / bar. According to a report of the secretariat of the international cartel of today, the decline of the reporting date June 29 is $ 0.90, recorded at a price of $ 58.24 / bar. This indicator is the weakest of April 22, 2015.

It is assumed that "OPEC Reference Basket of crudes" is one of the key price indicators for the global oil market. Reflects the weighted average cost of supply on the world market by individual participants in the organization of exporters. Localized in Vienna OPEC secretariat calculates and publishes the index on the basis of the average data from the previous day.

Since January 2009, "OPEC Reference Basket of crudes" is represented by the 12 marks allocated according to members of the organization:
Saharan Blend - Algeria; Girassol - Angola; Merey - Venezuela; Basra Light - Iraq; Iran Heavy - Iran; Qatar Marine - Qatar; Kuwait Export - Kuwait; Es Sider - Libya; Bonny Light - Nigeria; Murban - UAE; Arab Light - Saudi Arabia; Oriente - Equador.

"Rosneft ", the largest public oil producer, said its revenue fell, affected by the unfavorable impact mostly on macroeconomic factors. Meanwhile, a US production stays around 9.6 million barrels per day in recent weeks - the highest level since the 70s of the last century, Saudi Arabia continues to demonstrate policy of increased production, and Iran is ready for "oil start "in agreement on sanctions.

Today is the deadline for completion of negotiations on Iran's nuclear program. Expected to officially remove the embargo on exports of Iranian oil.

The growth of short positions shows that the prices are still under severe pressure and multilateral, including the overall theme "Greece".


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