OPEC price up to USD 62.75 pb

VIENNA– The OPEC daily basket price went up 81 cents to reach USD 62.75 per barrel (pb) on Tuesday, compared with USD 61.94 pb last Monday, the OPEC said Wednesday.

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