OPEC crudes basket up 48 cents to reach USD 69.01 pb

(MENAFN - Kuwait News Agency (KUNA)) VIENNA, June 2 (KUNA) -- The OPEC basket of crudes rose 48 cents per barrel (pb) during Tuesday's trading sessions to close at USD 69.01 pb compared with USD 68.53 pb last Monday, the organization said on Wednesday.The annual price of the OPEC basket in 2020 was at USD 41.47 pb The 17th OPEC and non-OPEC Ministerial Meeting concluded on Tuesday by strengthening market fundamentals, with oil demand showing clear signs of improvement and OECD stocks falling as the economic recovery continued in most parts of the world as vaccination programs accelerated.OPEC basket consists of Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). (end) amq.gaa MENAFN02062021000071011013ID1102194851