OPEC price up to USD 61.03 pb

VIENNA– The OPEC daily basket price went up 91 cents to reach USD 61.03 per barrel (pb) on Friday, compared with USD 60.12 pb the day before, the OPEC said Mobnday.

The average annual rate of the basket, in 2016, hit USD 40.76 pb, it added.

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