OPEC basket price at USD 72.57 pb

VIENNA, May 20 (KUNA) -- The OPEC daily basket price stood at USD 72.57 a barrel last Friday; down four cents from its USD 71.61 the day before, the organization said Monday.
The annual average of the OPEC basket price hit USD 52.43 pb in 2018, it said in a release.
The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon ), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq ), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
OPEC members and independent producers had agreed to cut output by 800,000 barrels per day, making up 2.5 percent of each member's production.
Eleven non-OPEC countries had also vowed to slash production by 400,000 bpd, which constitutes 2 percent of every non-OPEC member. (end) amg.hb