(MENAFN- Kuwait News Agency (KUNA)) The OPEC daily basket price stood at USD 43.87 a barrel on Tuesday, compared with USD 44.92 pb the previous Friday, the cartel said here on Wednesday.
The yearly average of the OPEC's basket price hit USD 96.29, 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.
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