The price of OPEC basket of fourteen crudes stood at $48.31 a barrel on Monday, compared with $48.59 the previous Friday, according to OPEC Secretariat calculations, released today.

    The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Qatar Marine (Qatar), Arab Light (Saudi Arabia), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Murban (UAE) and Merey (Venezuela).