Kuwait- OPEC oil price down 90 cents to USD 30.74 pb
Date
12/22/2015 7:11:31 AM
(MENAFN- Kuwait News Agency (KUNA)) VIENNA Dec 22 (KUNA) -- The crude basket price went down 90 cents Monday and stood at USD 30.74 per barrel compared with USD 31.63 pb last Friday the OPEC said on Tuesday.It added that the monthly average of the OPEC's basket price in November was USD 40.50 per barrel while in October it was USD 45.02 per barrel which indicates that the basket price from the beginning of the year till the last weekend is USD 34.91 pb.The yearly average for the basket last year was USD 96.29 per barrel it said.The 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 recent meeting in Vienna OPEC member countries had decided to maintain their production at 30 million barrels per day (bpd) despite a surplus in the market estimated at over a million barrels. (end) amq.tg
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