OPEC basket price up USD 1.29 to USD 26.40 pb

VIENNA, Jan 28 (KUNA) — The OPEC daily basket price went up USD 1.29 last Wednesday and stood at USD 26.40 a barrel, compared with USD 25.11 last Tuesday, the OPEC said on Thursday.
The annual average of the OPEC basket price hit USD 49.64 pb, it added.
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 (Venezuela).
During their recent meeting in Vienna in late 2015, OPEC member countries had decided to maintain their production at 30 million barrels per day (bpd) despite a surplus in the market estimated at over a million barrels. (end) amg.tg