(MENAFN- Kuwait News Agency (KUNA)) The OPEC daily basket price went up by 85 cents to USD 60.27 a barrel Tuesday, compared with USD 59.42 the previous day, the cartel said here on Wednesday.
The average monthly rate of the OPEC basket for May hit USD 62.16 pb against USD 57.30 pb in April, it added.
The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venez).
During their recent annual meeting, OPEC oil ministers had agreed to maintain the cartel's current output ceiling of 30 million barrels per day unchanged.
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