OPEC basket price stands at USD 63.31 pb

The OPEC daily basket price stood at USD 63.31 a barrel Monday, compared with USD 62.74 the previous Friday, the OPEC said Tuesday.

The average annual rate of the OPEC’s baskect price hit USD 52.43 pb in 2017, the organization said in a press statement.

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