The price of the basket of crudes of the Organization of Petroleum Exporting Countries (OPEC) dipped 82 cents on Monday and stood at USD 106.52 a barrel (pb), compared with USD 107.34 the previous day. The OPEC price bulletin said that annual average of crude prices in 2012 stood at USD 109.45 pb The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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 (Venez).