12/30/2010
OPEC basket price up to USD 90.22 pb
VIENNA, Dec 30 (KUNA) -- The 12-crude basket of the Organization of Petroleum Exporting Countries (OPEC) went up by 14 cents to USD 90.22 per barrel in the Wednesday trading, compared to USD 90.08 pb on Tuesday, the oil cartel said on Thursday. Annual average for the basket price, last year, amounted to USD 76.11 pb.
OPEC basket price up to USD 90.22 pb
VIENNA, Dec 30 (KUNA) -- The 12-crude basket of the Organization of Petroleum Exporting Countries (OPEC) went up by 14 cents to USD 90.22 per barrel in the Wednesday trading, compared to USD 90.08 pb on Tuesday, the oil cartel said on Thursday. Annual average for the basket price, last year, amounted to USD 76.11 pb.
OPEC basket comprises 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). The cartel had predicted global demand for oil to go up by 1.18 million barrels per day, up 10,000 barrels per day compared to an earlier month's figure Oil ministers of OPEC member states decided at their recent meeting, held in Ecuador, to maintain current oil production ceiling at 24.880million barrels per day.
There was also a call upon the member states to adhere to the output quotas, as previously agreed upon.
