OPEC daily basket price closes over $1.50 higher

Vienna: The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $55.54 a barrel on Thursday, compared to $53.78 on Friday, the organisation's secretariat said.

The OPEC Reference Basket of Crudes is made up of Murban (UAE), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia) and Merey (Venezuela). A barrel equals 159 litres.