VIENNA, Jan 27 (KUNA) -- OPEC said Monday its daily crude basket price dropped by 74 cents last Friday to settle at USD 62.52 per barrel (pb), compared with USD 63.26 pb the day before.
An OPEC bulletin added basket's average price for December 2019 was USD 66.48 pb, up from USD 62.94 pb in November. Average since start of the year until end of last week was USD 66.52 pb.
It said 2019 price average was USD 64.04 pb.
The OPEC Reference Basket of Crudes (ORB) is made up of 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), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
OPEC and non-OPEC countries, known as OPEC+, signed an agreement on December 6 to increase crude production cuts by 500,000 bpd to raise reduction of output to 1.7 million bpd till first quarter of this year. (end)