OPEC basket price holds steady at USD 72.05 pb amid soaring demand

(MENAFN - Kuwait News Agency (KUNA)) VIENNA, June 16 (KUNA) -- OPEC said the price of a basket of its crudes has settled at USD 72.05 per barrel (pb) on Wednesday, up from the previous day's figure of USD 71.88 pb, as optimism over a post-pandemic recovery continues to grow.Current oil prices appear to be on the high side in comparison to pre-pandemic levels, the cartel said in a statement.In its latest forecast, OPEC expected demand for its crude to rise by 27.3 million barrels per day (bpd) this year.end) amg.nam MENAFN16062021000071011013ID1102292879