OPEC basket price down to USD 34.33 pb

VIENNA, April 1 (KUNA) -- The OPEC daily basket price of thirteen crudes stood at USD 34.33 a barrel on Thursday, compared with USD 34.91 the previous day, the OPEC said on Friday.
The annual average of the OPEC basket price hit USD 49.64 pb, it said in a press release.
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