Market

OPEC price down 14 cents to USD 65.38 pb

KUWAIT, The OPEC basket price went down 14 cents to USD 65.38 per barrel (pb) Wednesday after being at USD 65.66 pb the day before, said the International organization Thursday.

The average annual rate of the OPEC crudes stood at USD 52.43 pb last year.

OPEC Reference Basket of Crudes (ORB) is made up of the following: 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), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Source: Kuwait News Agency