OPEC basket price down to USD 44.88 pb

VIENNA, June 27 (KUNA) -- The OPEC daily basket price stood at USD 44.88 a barrel Friday, compared with USD 46.16 the previous day, the OPEC said on Monday.
The monthly average of the OPEC basket price for May hit USD 43.21 pb, compared with USD 37.86 pb in April, 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 meeting in Vienna on June 2, OPEC oil ministers emphasized that Member Countries should continue to closely monitor developments in the coming months, and if necessary meet again and suggest further measures according to prevailing market conditions.
They also decided that their next Ordinary Meeting will convene in Vienna on November 30, 2016. (end) amg.mt