Kuwait- OPEC oil price down to USD 38.37 pb

11/23/2015 7:23:31 AM

(MENAFN- Kuwait News Agency (KUNA)) VIENNA Nov 23 (KUNA) -- The OPEC daily basket price went down 15 cents last Friday and stood at USD 38.37 per barrel compared with USD 38.52 pb the previous day the cartel said on Monday.The yearly average of the OPEC's basket price hit USD 96.29 a barrel 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 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. (end) amg.tg

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