The OPEC daily basket price stood at USD 41.50 a barrel on Tuesday, compared with USD 43.55 the previous day, the cartel said here on Wednesday.
The average annual rate amounted to USD 96.29 pb, 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 (Venez).
During their recent annual meeting, OPEC oil ministers decided to maintain the cartel's production level at 30 million barrels per day.