OPEC crude jumps USD 1.92 to USD 111.40 pb

The price of the 12-crudes basket of the Organization of Petroleum Exporting Countries (OPEC) went up USD 1.29 on Wednesday to settle at USD 111.40 pb, from USD 109.48 pb Tuesday.

OPEC’s Thursday bulletin said the basket average price for 2010 came to USD 77.45 pb.

Kuwaiti crude is one in a basket of 12 crudes produced by OPEC members, along with Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).