(MENAFN- Kuwait News Agency (KUNA)) VIENNA, July 17 (KUNA) -- OPEC daily basket price stood at USD 46.40 per barrel Friday, compared with USD 45.66 pb the previous day, said the international organization Monday.
The basket's annual price for 2016 was at USD 40.76 pb, it added.
OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine.(Qatar), Arab Light (Saudi Arabia), Murban (UAE), Merey (Venezuela), Girassol (Angola), and Oriente (Ecuador).
The joint meeting between OPEC oil ministers and their counterparts from outside the organization have reached an agreement last May to continue the decrease of production for additional nine months to end by March of the year 2018 with 1.8 mbpd.
A joint meeting between OPEC oil ministers and their counterparts from other nations will be held on July 22 in Russia to discuss means to reduce global production. (end) amg.tg
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