OPEC daily basket price rose by USD 3.36 on Monday, reaching USD 48.19 per barrel, compared to USD 44.83 on Friday. The annual rate for the basket's price in 2014 was USD 96.29 pb, said OPEC on Tuesday.
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).
In their annual meeting last Nov.27, 2014, OPEC oil ministers had agreed to leave production at a level of 30 million barrels a day.