OPEC basket price up 25 cents to $103.94 per barrel

OPEC daily basket price stood at USD 103.94 a barrel Thursday, compared with USD 103.69 the previous day, according to OPEC Secretariat calculations on Friday. OPEC's annual rate for the basket price in 2013 was USD 105.85 per barrel. 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). Last December, OPEC Ministers of Oil decided to keep the productivity level of its 12 member states stable at 30 million barrel per day, to protect stability and balance in international oil markets