OPEC basket price up USD1.30 to USD36.01 pb
Date
4/11/2016 7:10:31 AM
(MENAFN- Kuwait News Agency (KUNA)) VIENNA April 11 (KUNA) -- The OPEC daily basket price stood at USD 36.01 a barrel last Friday compared with USD 34.71 Thursday the organization announced on Monday.
The annual average of the OPEC basket price hit USD 49.64 pb it said in a press release.
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 recent meeting in Vienna in late 2015 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) amg.tg
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