(MENAFN- Kuwait News Agency (KUNA)) The OPEC daily basket price stood at USD 45.71 a barrel on Friday, compared with USD 45.05 the previous day, the cartel said here on Monday.
The average monthly rate of the OPEC basket hit USD 44.83 pb in September and USD 45.46 pb in August, while the average annual rate amounted to USD 96.29 pb last year, 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 (Venezuela).
During their annual meeting here in June, the OPEC oil ministers agreed to maintain their output ceiling of 30 million barrels per day.
The OPEC expects high demand for oil and high supply on the part of non-OPEC member states in the second half of 2015.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.