PHOTO
The exterior of the Organization of the Petroleum Exporting Countries (OPEC) Secretariat building in Vienna, Austria. Image Courtesy: The Al-Attiyah Foundation Image for illustrative purpose
VIENNA-- The price of OPEC's basket of 12 crudes reached USD 74.47 a barrel (pb) on Wednesday, compared to USD 73.48 pb the previous day, according to OPEC Secretariat calculations publicized on Thrusday.
OPEC's annual basket rate for last year was estimated at USD 82.95 pb, it said in a release.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
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