OPEC Basket Price Down To USD 101.19 Pb| MENAFN.COM

Saturday, 13 August 2022 03:52 GMT

OPEC Basket Price Down To USD 101.19 Pb


(MENAFN- Kuwait News Agency (KUNA)) VIENNA, Aug 5 (KUNA) -- The price of OPEC basket of thirteen crudes dropped by USD 2.98 to USD 101.19 per barrel (pb) on Thursday, from USD 104.17 the previous day.
The annual average of OPEC basket price in 2021 was USD 69.89 pb, the OPEC Secretariat noted in its daily bulletin on Friday.
The OPEC+ energy ministers decided two days ago to boost the oil production by 100,000 bpd by September in addition to the 648,000 bpd increase decided previously for the current month.
The decision came at the end of the 31st ministerial meeting of the 13 members and 10 partners of OPEC.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), 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). (end)
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