OPEC crude drops 74 cents

The price of the 12-crudes basket of the Organization of Petroleum Exporting Countries (OPEC) dropped 74 cents last Friday to settle at USD 104.37 pb, from USD 105.11 pb the day before, the rtel announced Monday. OPEC's Friday's bulletin said the basket average price for the year came to USD 77.45 pb. Kuwaiti crude is one in a basket of 12 crudes produced by OPEC members, along with Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE), and Merey (Venezuela).