OPEC prices keep rising to US $120.30 per barrel

OPEC’s 12-crude basket prices carried on hiking Monday to USD 120.30 per barrel (pb) compared to USD 120.01 pb last Friday, the oil cartel said Tuesday.

The annual price average of crude last year was USD 77.45 pb, added the OPEC bulletin in a statement on Friday.

OPEC basket comprises 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).

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