AlwaysFree: OPEC Basket Price Risen Above $40, Highest In Four Months

The OPEC Basket oil price has risen above $40/barrel for the first time in four months, indicating higher actual selling prices. The basket price is at $42.66/barrel on July 1, higher as much as 12% than the day before also the highest since March 3.   The rise comes even after gains in Brent futures prices, indicating higher selling prices from many producers including Saudi Arabia, UAE, Kuwait and Iraq, which was kicked in at the start of the month.  

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