OPEC basket price up 93% to $103.30 per barrel

OPEC daily basket price rose by 93 cents to USD 103.30 per barrel on Friday compared with USD 102.37 the previous day, the cartel said here on Monday.The monthly Average: January 2014 USD 104.71, February 2014 USD 105.38 Mth-to-Date Avg. March 2014 USD 104.32, it said.The annual rate of the OPEC basket price hit USD 105.85 last year, the statement added.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).