OPEC basket Up by 6 cents, to USD 109.15 pb

The price of the 12-crude reference basket of the Organization of Petroleum Exporting Countries (OPEC) spiked six cents to USD 109.15 per barrel (pb) on Friday, compared to USD 109.09 the day before, said the cartel''s bulletin Monday. The bulletin pointed out that average OPEC basket price for 2010 was USD 77.45 pb. The OPEC Reference Basket (ORB), introduced June 2005, is currently made up of 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).