Petroleum Exporting Countries (OPEC) daily basket price stood at USD 109.62 per barrel (pb) Tuesday compared with USD 110.30 the previous a day earlier, said OPEC bulletin on Wednesday.
OPEC bulletin noted that the annual rate for the basket of crudes last year was USD 105.85 per barrel.
The OPEC oil ministers decided during their 165th meeting on June 11 to keep current OPEC production ceiling unchanged, at 30 million barrels per day.
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).(