OPEC basket price down 53 cents to USD 64.30 pb

The OPEC daily basket price was down Wednesday 53 cents to stand at USD 64.30 per barrel (pb), compared with USD 64.83 pb the previous day, the organization said Thursday.

The average annual rate of the OPEC basket hit USD 52.43 per barrel for 2017, OPEC said in a press statement.

OPEC’s Reference Basket of Crudes (ORB) is made up of Kuwait Export (Kuwait), Saharan Blend (Algeria), Iran Heavy (Iran), Basra Light (Iraq), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), Merey (Venezuela), Girassol (Angola), and Oriente (Ecuador)

Source: Kuwait News Agency