OPEC basket price down to USD 65.05 pb

VIENNA, June 25 (KUNA) -- The daily basket price stood at USD 65.05 a barrel Monday, compared with USD 65.29 the previous Friday, according to OPEC Secretariat calculations.
The average annual price of OPEC crudes was 52.43 pb last year, the cartel said.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
An agreement was reached earlier this year by oil ministers of OPEC's member states, along with independent crude producing nations had stipulated trimming the output by 800,000 barrels per day, equivalent to 2.5 percent of each country's production.
Eleven non-OPEC countries, according to the deal, would slash the production by 400,000 bpd, two percent by each oil producing country outside the organization. (end) amg.mt