Baghdad The Organization of Petroleum Exporting Countries (OPEC) announced today, Monday, that the price of its crude basket fell by 62 cents a barrel in last Friday’s trading, after the price was 78.66 dollars last Thursday.

The bulletin of the (OPEC) Secretariat General stated that the annual rate of the basket oil price last year was 47.41 dollars per barrel.

The Producers’ Alliance (OPEC +) confirmed at the conclusion of its last ministerial meeting the importance of continuing the current efforts aimed at maintaining the balance of the oil market, stressing also the continuous positive contributions of the countries declaring cooperation in support of rebalancing the global oil market in line with the historic decisions it has taken ( OPEC +) .

In its last periodic report, the organization expected that the demand for its raw materials this year would reach 3.27 million barrels per day, up 9.4 million barrels per day compared to 2020.

Source: National Iraqi News Agency