OPEC basket down to USD 72.12 pb

VIENNA, OPEC’s daily basket price stood at USD 72.12 a barrel Tuesday — May 8, 2018 — compared with USD 72.45 per barrel the previous day, said the international organization in a statement.

OPEC’s bulletin said that the annual price of the basket was at 52.43 per barrel in 2017.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), 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).

Source: Kuwait News Agency