OPEC daily basket price closes lower

Vienna, Aug 3 (IANS/WAM) The price of OPEC's basket of 14 crudes dipped to $38.29 a barrel on Tuesday, compared to $39.10 on Monday, according to the OPEC Secretariat.

The OPEC Reference Basket of Crudes is made up of the following: Murban (UAE), Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Minas (Indonesia), 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). A barrel equals 159 litres.