OPEC basket down to USD 48.25 pb

GENEVA, March 28 (KUNA) -- The price of the OPEC basket of crudes was down by one cent to USD 48.25 per barrel Monday after being at USD 48.26 on Friday, said the international organization Tuesday.
According to OPEC's bulletin, the average monthly price of the organization's basket last February was USD 53.37 pb, while in last January it reached USD 52.40 pb, which indicated the basket price since the beginning of 2017 until last week reached USD 50.56 pb.
The annual rate of the organization's basket last year was at USD 40.76 pb.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), 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), Merey (Venezual), Girassol (Angola), and Oriente (Ecuador). (end) amg.ss