2023-11-16 03:00:00
The Organization of Arab Petroleum Exporting Countries published indices for the prices of oil and its derivatives and the prices of natural gas, where the global standard Brent crude for January 2023 delivery recorded $82.20 per barrel, and West Texas crude recorded $77.92 per barrel for December 2023 delivery, and the average basket of OPEC crudes recorded $86.35 per barrel. For November 2023.
The average price of premium gasoline in the American market was $4,150 per gallon, and the average price of diesel in the American market was $4,336 per gallon.
Last week, oil prices fell to their lowest level since July, affected by fears of a possible decline in demand in the United States and China, the world’s largest oil consumers.
China’s consumer price index fell in October to levels not seen since the Covid-19 pandemic, and exports for that month contracted more than expected.
Saudi Arabia and Russia confirmed last week that they will continue voluntary oil production cuts until the end of the year, as concerns related to demand and economic growth continue to cast a shadow on crude markets.
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