The Organisation of Petroleum Exporting Countries (OPEC) daily basket price was up 17 cents on Friday and stood at USD 107.34 per barrel (pb) compared with USD 107.17 the previous a day earlier, revealed its bulletin on Monday.
The monthly average for May 2014 was USD 105.44, June, USD 107.89 and July, USD 107.89, it added.
The new OPEC Reference Basket of Crudes (ORB) is 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).