Kuwait – Mubasher: The Organization of Arab Petroleum Exporting Countries (OAPEC) reported that OPEC oil price rose 41% in the second quarter of 2016 to stand at $42.3 per barrel, the Kuwait News Agency said on Sunday.
The current quote is considered the highest level since the third quarter of 2015 and lower 29.4%, or $17.6 a barrel as compared to the year-ago quarter, the OAPEC said.
Gasoline average price increased by 30% to $67.9 a barrel in the US Gulf Coast market, while rising 32% to $60.6 a barrel in the Mediterranean market.
The report forecasted the global economy to improve by the end of 2016 and 2017 and oil prices to climb as well.
