OPEC crude oil price stands at USD 83.17 pb

VIENNA, Price of OPEC’s 15-crude basket was up USD 1.29 on Tuesday to USD 83.17 per barrel (pb) compared with USD 81.88 pb Monday, the organization said in its bulletin on Wednesday.

The bulletin noted that the annual average price of the crudes’ basket stood at USD 52.43 pb last year.

The OPEC basket comprises Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), 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