The Oil Price of the OPEC basket exceeds $ 40

Baghdad, The oil price of the basket of the Organization of Petroleum Exporting Countries increased above $ 40 a barrel for the first time in four months, due to the high official selling prices, according to data from the organization.

The basket price reached $ 42.66 a barrel in the first of July, an increase of about 12 percent compared to the previous day, which is also the highest level since the third of March, according to the figures.

The increase, which came in spite of more modest gains for the same period in Brent futures, is due to the high official selling prices for many of the producers in the organization such as Saudi Arabia, Kuwait, the Emirates and Iraq, which came into effect at the beginning of the month, according to two sources in OPEC.


Source: National Iraqi News Agency

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