The price of OPEC basket of fourteen crudes stood at US$49.93 a barrel on Friday, compared with $49.76 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes is made up of Murban (UAE), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), 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), and Merey (Venezuela).