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OPEC oil price in verge of $61/barrel

Monday, June 22
The OPEC oil basket price increased 28 cents to $60.55 per barrel on June 18.

However, the figure is $1.86 less than June 10, the Cartel's official website published on Friday.

OPEC members agreed to keep oil production ceiling unchanged at 30 million barrels per day during a meeting in Vienna on June 5.

A monthly report by OPEC said the organizationís output was 30.975 million barrels per day in May.

This is while according to OPECís own evaluation the demand for the organizationís oil is 29.3 million barrels per day for 2015.

OPEC oil basket is currently made up of the Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), 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), Murban (UAE) and Merey (Venezuela).