OPEC basket price up to USD 67.05 pb

The OPEC daily basket price was up 22 cents on Friday to stand at USD 67.05 per barrel (pb), compared with USD 66.83 pb the previous day, the organization said Monday.

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