By KUNA
Vienna : The Organization of Petroleum Exporting Countries’ (OPEC) basket of 12 crudes gained USD 0.49 on Tuesday to settle at USD 94.09 per barrel, after being USD 93.63 the day before.
According to the OPEC bulletin, the average annual price of the basket last year was USD 69.10 per barrel.
OPEC Reference Basket (ORB), implemented as of 10 September 2007, is currently made up of the following: Saharan Blend (Algeria), Girassol (Angola), Minas (Indonesia), 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 BCF 17 (Venezuela).
During their emergency meeting in Vienna earlier this month, OPEC oil ministers agreed to maintain production at its current 29.6 million barrels per day. They will be holding their regular meeting here on March 5.