Baghdad The monthly average price of “OPEC” crudes approached breaching the barrier of $71 a barrel during the month of June 2021, after it reached $70.93 at the end of last week, with a growth of 6% compared to the average price recorded in May, according to the latest figures issued by the Organization of Petroleum Exporting Countries.
As for the annual level, the organization expected the annual average price of its basket of crudes to rise in 2021 to $63.19 per barrel, i.e. 52.4% compared to 2020.
The rises recorded in the average price of OPEC crudes, whether at the monthly or annual level, coincide with the significant price jumps achieved by the prices of other raw materials, led by Brent crude, which jumped in the settlement session yesterday to $73.53, while US West Texas crude rose to $71.66.
Source: National Iraqi News Agency