OPEC announces pricing Organization 43 dollars a barrel reached last August
14 hours ago
(Independent). OPEC said that the average price reached $43 a barrel last August, expecting continued growth in global demand for oil in 2016 to 94.27 million barrels.
The organization said in its report followed (independent) said Thursday that the average price of OPEC basket of August stood at $43 per barrel high for July when prices reached $42.68 a barrel, "Brent prices rose $2.36 other average prices up to $47.16, while prices stabilized WTI NYMEX to $44.80 per barrel.
She added that "rising prices due to signs of improved supply-demand, a weak dollar, although a surprise build in crude stocks in the United States and increased supplies and Chinese fears pushed the price at the end of the month."
Organization amended its forecast for global economic growth to 2.9 percent for the year 2016 with maintained its forecast of 2017 limits 3.1% and kept their expectations also for economic growth of China and India increased by 6.5% and 7.5%, respectively.
The organization said it expected global oil demand growth will continue in the second half of the year 2016 by 1.23 up average demand to 94.27 million barrels, "signs to" continue the main growth centres next year for both India and China and the United States."
The OPEC basket is made up of 12 Khama, a mixture of the Algerian Sahara Angolan girassol ore and heavy and light crude in Basra the Iraqi, Iranian and Kuwaiti and Libyan export seder and Bonnie Nigerian light country and Saudi Arabian Light marine wemrban and Mary Ecuador Venezuela from OCC's website
And consider the Organization of petroleum exporting countries (OPEC), founded in Baghdad in 1960 by agreement between the five Nations are Saudi Arabia, Iran, Iraq, Kuwait and Venezuela, headquartered in Vienna, the world's largest organizations supervising oil export process planning and pricing, comprises currently 12 oil exporter, owns totalling somewhere between two thirds and three quarters of the world's oil reserves.[/size] (End)