OPEC price down by 56 cents to $78.11 per barrel

OPEC daily basket price stood at USD 78.11 a barrel Wednesday, compared with USD 78.67 the previous day, down 56 cents, the cartel said here on Thursday.
The annual rate of the OPEC basket for 2013 hit USD 105.85 a barrel, it said.
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).
During their meeting here on June 11, the OPEC oil ministers had decided to maintain the cartel's output ceiling of three million barrels a day with a view to keeping the balance and stability of the global oil market.