OPEC basket price down $1.25 to $111.55 per barrel Friday

The price of the basket of crudes of the Organization of Petroleum Exporting Countries (OPEC) was down USD 1.25 on Friday and stood at USD 111.55 a barrel (pb), compared with USD 112.80 the previous Friday. The OPEC price bulletin Monday said that monthly average for June 2013 stood at USD 101.03, USD 104.45 in July, and USD 106.54 in August. 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 (Venez).