The price of OPEC basket of twelve crudes went up by USD 2.76 USD 77.66 a barrel on Friday, compared with USD 74.90 the previous day, the OPEC Secretariat calculations announced Monday.

The OPEC’s annual basket rate for last year was estimated at USD 82.95 pb, it said in a release.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Source: Kuwait News Agency