The price of OPEC basket rose to $53.29 a barrel

Shafaq News/ The price of OPEC basket of thirteen crudes rose at $53.29 a barrel on Thursday, compared with $50.75 the previous day, according to OPEC Secretariat calculations.

Oil prices rose after Saudi Arabia announced a big voluntary production cut and on a steep fall in U.S. crude inventories. OPEC Said

The OPEC Reference Basket of Crudes (ORB) is made up of the following: 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).