The OPEC daily basket price stood at USD 58.05 a barrel last Friday, compared with USD 58.99 on Thursday, the cartel said here Monday.

The OPEC bulletin announced that the annual average of OPEC basket for last year was USD 96.29 pb.

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 here on June 5, OPEC oil ministers had decided to keep the cartel's current output ceiling of 30 million barrels per day unchanged.