(MENAFN– Kuwait News Agency (KUNA)) VIENNA, June 9 (KUNA) — The price of the OPEC crudes went up by 38 cents to settle at USD 121.54 barrel on Wednesday, as opposed to USD 120.16 the previous day, said international oil cartel on Thursday.
According to the OPEC bulletin, the average annual oil price of the cartel basket in 2021 was USD 69.89 per barrel.
The OPEC+ alliance countries agreed on June 2 to increase their production by 648,000 barrels for July and August.
The current additional quantities are exceeding the previously agreed monthly increases of 432,000 barrel per day, said a statement issued by OPEC+ alliance countries.
The OPEC is expected to hold its next ministerial meeting on June 30. (end)
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